Correlation Analysis Between LiveCoin CapriCoin and Cexio Ethereum

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

LiveCoin CapriCoin USD  vs.  Cexio Ethereum USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.98 
0.05  4.85%
Market Cap: 2.5 K
  

Cexio

Ethereum on Cexio in USD

 245.89 
7.35  3.08%
Market Cap: 360.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Cexio Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin CapriCoin USD is 2.63 times less risky than Cexio Ethereum. The crypto trades about -0.32 of its potential returns per unit of risk. The Cexio Ethereum USD is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  27,860  in Cexio Ethereum USD on August 24, 2018 and sell it today you would lose (3,923)  from holding Cexio Ethereum USD or give up 14.08% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and Cexio Ethereum

0.72
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Risk-Adjusted Performance

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

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