This module allows you to analyze existing cross correlation between LiveCoin BlueCoin USD and LiveCoin CapriCoin USD. You can compare the effects of market volatilities on LiveCoin BlueCoin and LiveCoin CapriCoin 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 LiveCoin CapriCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin BlueCoin
and LiveCoin CapriCoin
LiveCoin BlueCoin USD vs LiveCoin CapriCoin USD
Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to under-perform the LiveCoin CapriCoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin BlueCoin USD is 1.53 times less risky than LiveCoin CapriCoin. The crypto trades about -0.02 of its potential returns per unit of risk. The LiveCoin CapriCoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 47.46 in LiveCoin CapriCoin USD on February 22, 2018 and sell it today you would lose (8.96) from holding LiveCoin CapriCoin USD or give up 18.88% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin BlueCoin USD and LiveCoin CapriCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin CapriCoin 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 LiveCoin CapriCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin CapriCoin USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and LiveCoin CapriCoin go up and down completely randomly.
Over the last 30 days LiveCoin BlueCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.