Correlation Analysis Between LiveCoin Bitcoin and Neraex Bitcoin

This module allows you to analyze existing cross correlation between LiveCoin Bitcoin USD and Neraex Bitcoin USD. You can compare the effects of market volatilities on LiveCoin Bitcoin and Neraex Bitcoin 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 Bitcoin with a short position of Neraex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin Bitcoin and Neraex Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

LiveCoin Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin Bitcoin is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholder.
Neraex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Neraex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

LiveCoin Bitcoin and Neraex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Bitcoin USD  vs.  Neraex Bitcoin USD

LiveCoin

Bitcoin on LiveCoin in USD

 10,304 
(282.96)  2.67%
Market Cap: 13.2 M
  

Neraex

Bitcoin on Neraex in USD

 10,313 
(228.51)  2.17%
Market Cap: 4.2 M
(9.20)
0.09% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Bitcoin USD is expected to generate 0.94 times more return on investment than Neraex Bitcoin. However, LiveCoin Bitcoin USD is 1.07 times less risky than Neraex Bitcoin. It trades about -0.01 of its potential returns per unit of risk. Neraex Bitcoin USD is currently generating about -0.07 per unit of risk. If you would invest  1,143,218  in LiveCoin Bitcoin USD on July 25, 2019 and sell it today you would lose (84,522)  from holding LiveCoin Bitcoin USD or give up 7.39% of portfolio value over 30 days.

Pair Corralation between LiveCoin Bitcoin and Neraex Bitcoin

0.75
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Bitcoin and Neraex Bitcoin

LiveCoin Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Bitcoin USD and Neraex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Neraex Bitcoin USD and LiveCoin Bitcoin 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 Bitcoin USD are associated (or correlated) with Neraex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neraex Bitcoin USD has no effect on the direction of LiveCoin Bitcoin i.e. LiveCoin Bitcoin and Neraex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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