Pair Correlation Between LiveCoin BlueCoin and LiveCoin TrustCoin

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.00647 
0.00034  4.99%
Market Cap: 83.0

LiveCoin

TrustCoin on LiveCoin in USD
 0.36 
0.0278  8.37%
Market Cap: 138
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 0.78 times more return on investment than LiveCoin TrustCoin. However, LiveCoin BlueCoin USD is 1.28 times less risky than LiveCoin TrustCoin. It trades about -0.04 of its potential returns per unit of risk. LiveCoin TrustCoin USD is currently generating about -0.12 per unit of risk. If you would invest  1.05  in LiveCoin BlueCoin USD on January 25, 2018 and sell it today you would lose (0.40)  from holding LiveCoin BlueCoin USD or give up 38.44% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and LiveCoin TrustCoin
0.28

Parameters

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

Diversification

Modest diversification

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

Pair trading matchups for LiveCoin BlueCoin

LiveCoin TrustCoin USD

  
0 

Risk-Adjusted Performance

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

LiveCoin TrustCoin USD

Pair trading matchups for LiveCoin TrustCoin