Correlation Analysis Between LiveCoin CapriCoin and Coinbase Bitcoin

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

Comparative Performance

LiveCoin CapriCoin USD  

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 weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in July 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
Coinbase Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, Coinbase Bitcoin reported solid returns over the last few months and may actually be approaching a breakup point.

LiveCoin CapriCoin and Coinbase Bitcoin Volatility Contrast

 Predicted Return Density 

LiveCoin CapriCoin USD  vs.  Coinbase Bitcoin USD


CapriCoin on LiveCoin in USD

0.0098  5.22%
Market Cap: 166


Bitcoin on Coinbase in USD

(170.00)  1.89%
Market Cap: 456.4 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Coinbase Bitcoin. In addition to that, LiveCoin CapriCoin is 1.57 times more volatile than Coinbase Bitcoin USD. It trades about -0.12 of its total potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.28 per unit of volatility. If you would invest  529,037  in Coinbase Bitcoin USD on May 19, 2019 and sell it today you would earn a total of  371,518  from holding Coinbase Bitcoin USD or generate 70.23% return on investment over 30 days.

Pair Corralation between LiveCoin CapriCoin and Coinbase Bitcoin

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for LiveCoin CapriCoin and Coinbase Bitcoin

LiveCoin CapriCoin USD diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin CapriCoin USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase 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 Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of LiveCoin CapriCoin i.e. LiveCoin CapriCoin and Coinbase Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.