Correlation Analysis Between LiveCoin BlueCoin and LiveCoin Stratis

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

LiveCoin BlueCoin USD  vs.  LiveCoin Stratis USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.00279 
0.00062  18.18%
Market Cap: 15.0
  

LiveCoin

Stratis on LiveCoin in USD
 3.09 
0.02  0.64%
Market Cap: 604
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 2.69 times more return on investment than LiveCoin Stratis. However, LiveCoin BlueCoin is 2.69 times more volatile than LiveCoin Stratis USD. It trades about -0.03 of its potential returns per unit of risk. LiveCoin Stratis USD is currently generating about -0.31 per unit of risk. If you would invest  0.49  in LiveCoin BlueCoin USD on May 20, 2018 and sell it today you would lose (0.21)  from holding LiveCoin BlueCoin USD or give up 43.41% of portfolio value over 30 days.

Pair Corralation between LiveCoin BlueCoin and LiveCoin Stratis

0.74
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin BlueCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin BlueCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin Stratis USD  
0 

Risk-Adjusted Performance

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

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