Correlation Analysis Between LiveCoin BlueCoin and Kraken Augur

This module allows you to analyze existing cross correlation between LiveCoin BlueCoin USD and Kraken Augur USD. You can compare the effects of market volatilities on LiveCoin BlueCoin and Kraken Augur 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 Kraken Augur. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin BlueCoin and Kraken Augur.
 Time Horizon     30 Days    Login   to change
Symbolsvs

LiveCoin BlueCoin USD  vs.  Kraken Augur USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.00404 
0.00052  14.77%
Market Cap: 2.0
  

Kraken

Augur on Kraken in USD
 36.56 
0.41  1.13%
Market Cap: 348.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 3.09 times more return on investment than Kraken Augur. However, LiveCoin BlueCoin is 3.09 times more volatile than Kraken Augur USD. It trades about 0.04 of its potential returns per unit of risk. Kraken Augur USD is currently generating about -0.05 per unit of risk. If you would invest  0.50  in LiveCoin BlueCoin USD on May 22, 2018 and sell it today you would lose (0.10)  from holding LiveCoin BlueCoin USD or give up 19.84% of portfolio value over 30 days.

Pair Corralation between LiveCoin BlueCoin and Kraken Augur

0.59
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin BlueCoin USD and Kraken Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Augur 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 Kraken Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Augur USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and Kraken Augur go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin BlueCoin USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Kraken Augur USD  
0 

Risk-Adjusted Performance

Over the last 30 days Kraken Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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