Pair Correlation Between LiveCoin BlueCoin and Kraken Monero

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

LiveCoin

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

Kraken

Monero on Kraken in USD
 317.3 
(0.66)  0.21%
Market Cap: 810 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 4.18 times more return on investment than Kraken Monero. However, LiveCoin BlueCoin is 4.18 times more volatile than Kraken Monero USD. It trades about 0.29 of its potential returns per unit of risk. Kraken Monero USD is currently generating about 0.48 per unit of risk. If you would invest  0.31  in LiveCoin BlueCoin USD on November 16, 2017 and sell it today you would earn a total of  1.14  from holding LiveCoin BlueCoin USD or generate 364.74% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Kraken Monero
0.87

Parameters

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

Diversification

Very poor diversification

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

Kraken Monero USD

  
31 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 31 (%) of all global equities and portfolios over the last 30 days.