Correlation Analysis Between LiveCoin CapriCoin and BitTrex Bitcoin

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

Comparative Performance

LiveCoin CapriCoin USD  
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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. Despite fragile performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
BitTrex Bitcoin USD  
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Risk-Adjusted Performance

Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly fragile basic indicators, BitTrex Bitcoin showed solid returns over the last few months and may actually be approaching a breakup point.

LiveCoin CapriCoin and BitTrex Bitcoin Volatility Contrast

LiveCoin CapriCoin USD  vs.  BitTrex Bitcoin USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.08 
(0.00907)  9.99%
Market Cap: 217
  

BitTrex

Bitcoin on BitTrex in USD

 10,304 
440.12  4.46%
Market Cap: 70.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the BitTrex Bitcoin. In addition to that, LiveCoin CapriCoin is 1.24 times more volatile than BitTrex Bitcoin USD. It trades about -0.71 of its total potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about 0.71 per unit of volatility. If you would invest  986,368  in BitTrex Bitcoin USD on August 20, 2019 and sell it today you would earn a total of  44,012  from holding BitTrex Bitcoin USD or generate 4.46% return on investment over 30 days.

Pair Corralation between LiveCoin CapriCoin and BitTrex Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin CapriCoin and BitTrex Bitcoin

LiveCoin CapriCoin USD diversification synergy

Pay attention

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