Correlation Analysis Between LiveCoin BlueCoin and LiveCoin Diamond

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

LiveCoin BlueCoin USD  vs.  LiveCoin Diamond USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.00395 
0.00043  12.22%
Market Cap: 15.0
  

LiveCoin

Diamond on LiveCoin in USD
 7.29 
3.70  103.06%
Market Cap: 368
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 2.11 times less return on investment than LiveCoin Diamond. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 1.14 times less risky than LiveCoin Diamond. It trades about 0.04 of its potential returns per unit of risk. LiveCoin Diamond USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  670.00  in LiveCoin Diamond USD on May 21, 2018 and sell it today you would earn a total of  59.00  from holding LiveCoin Diamond USD or generate 8.81% return on investment over 30 days.

Pair Corralation between LiveCoin BlueCoin and LiveCoin Diamond

0.84
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.67%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin BlueCoin USD and LiveCoin Diamond USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Diamond 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 Diamond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Diamond USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and LiveCoin Diamond 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.
LiveCoin Diamond USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Diamond USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

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Alphabet
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