Pair Correlation Between LiveCoin BlueCoin and CCEX BitZeny

This module allows you to analyze existing cross correlation between LiveCoin BlueCoin USD and CCEX BitZeny USD. You can compare the effects of market volatilities on LiveCoin BlueCoin and CCEX BitZeny and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in LiveCoin BlueCoin with a short position of CCEX BitZeny. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin BlueCoin and CCEX BitZeny.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 LiveCoin BlueCoin USD  vs   CCEX BitZeny USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.0145 
(0.002)  12.12%
Market Cap: 67.0

CCEX

BitZeny on CCEX in USD
 0.19 
(0.12)  39.58%
Market Cap: 192
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 5.29 times less return on investment than CCEX BitZeny. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 6.09 times less risky than CCEX BitZeny. It trades about 0.3 of its potential returns per unit of risk. CCEX BitZeny USD is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest  0.38  in CCEX BitZeny USD on November 17, 2017 and sell it today you would earn a total of  18.53  from holding CCEX BitZeny USD or generate 4863.25% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and CCEX BitZeny
0.64

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin BlueCoin USD and CCEX BitZeny USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX BitZeny USD and LiveCoin BlueCoin is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on LiveCoin BlueCoin USD are associated (or correlated) with CCEX BitZeny. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX BitZeny USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and CCEX BitZeny go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

CCEX BitZeny USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BitZeny USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.