Correlation Analysis Between LiveCoin CapriCoin and Bitfinex NEO

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

LiveCoin CapriCoin USD  vs.  Bitfinex NEO USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.72 
0.08  9.99%
Market Cap: 212
  

Bitfinex

NEO on Bitfinex in USD

 12.97 
0.06  0.46%
Market Cap: 64.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to generate 2.13 times more return on investment than Bitfinex NEO. However, LiveCoin CapriCoin is 2.13 times more volatile than Bitfinex NEO USD. It trades about -0.09 of its potential returns per unit of risk. Bitfinex NEO USD is currently generating about -0.32 per unit of risk. If you would invest  95.12  in LiveCoin CapriCoin USD on October 17, 2018 and sell it today you would lose (20.12)  from holding LiveCoin CapriCoin USD or give up 21.15% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and Bitfinex NEO

0.29
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.65%
ValuesDaily Returns

Diversification

LiveCoin CapriCoin USD diversification synergy

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin CapriCoin USD  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Over the last 30 days Bitfinex NEO 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
$1064.51

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 Transaction History module to view history of all your transactions and understand their impact on performance.


 
Search macroaxis.com