Correlation Analysis Between LiveCoin BlueCoin and Kraken ZCash

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

LiveCoin BlueCoin USD  vs.  Kraken ZCash USD

LiveCoin

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

Kraken

ZCash on Kraken in USD
 167.53 
1.95  1.15%
Market Cap: 22.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 3.16 times more return on investment than Kraken ZCash. However, LiveCoin BlueCoin is 3.16 times more volatile than Kraken ZCash USD. It trades about 0.04 of its potential returns per unit of risk. Kraken ZCash USD is currently generating about -0.27 per unit of risk. If you would invest  0.50  in LiveCoin BlueCoin USD on May 24, 2018 and sell it today you would lose (0.09)  from holding LiveCoin BlueCoin USD or give up 18.55% of portfolio value over 30 days.

Pair Corralation between LiveCoin BlueCoin and Kraken ZCash

0.75
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 Kraken ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken ZCash 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 ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken ZCash USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and Kraken ZCash 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 ZCash USD  
0 

Risk-Adjusted Performance

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

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