Correlation Analysis Between LiveCoin BlueCoin and LiveCoin NEM

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

LiveCoin BlueCoin USD  vs.  LiveCoin NEM USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.00341 
0.00031  8.33%
Market Cap: 15.0
  

LiveCoin

NEM on LiveCoin in USD
 0.20 
0.003  1.49%
Market Cap: 4.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 4.07 times more return on investment than LiveCoin NEM. However, LiveCoin BlueCoin is 4.07 times more volatile than LiveCoin NEM USD. It trades about -0.01 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.38 per unit of risk. If you would invest  0.54  in LiveCoin BlueCoin USD on May 19, 2018 and sell it today you would lose (0.20)  from holding LiveCoin BlueCoin USD or give up 37.08% of portfolio value over 30 days.

Pair Corralation between LiveCoin BlueCoin and LiveCoin NEM

0.84
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
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 NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NEM 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 NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NEM USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and LiveCoin NEM 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 NEM USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1152.26

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try ETF Directory module to find actively-traded exchange traded funds (etf) from around the world.