Correlation Analysis Between LiveCoin CapriCoin and Bitfinex Recovery

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

LiveCoin CapriCoin USD  vs.  Bitfinex Recovery Right Tokens

LiveCoin

CapriCoin on LiveCoin in USD
 1.18 
0.01  0.84%
Market Cap: 4.4 K
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.06 
0.00065  1.10%
Market Cap: 104.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin is expected to generate 1.28 times less return on investment than Bitfinex Recovery. But when comparing it to its historical volatility, LiveCoin CapriCoin USD is 1.26 times less risky than Bitfinex Recovery. It trades about 0.05 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  5.79  in Bitfinex Recovery Right Tokens USD on June 22, 2018 and sell it today you would earn a total of  0.06  from holding Bitfinex Recovery Right Tokens USD or generate 1.04% return on investment over 30 days.

Pair Corralation between LiveCoin CapriCoin and Bitfinex Recovery

0.52
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin CapriCoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Recovery Right  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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