Correlation Analysis Between LiveCoin CapriCoin and Kraken Monero

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

LiveCoin CapriCoin USD  vs.  Kraken Monero USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.68 
0.12  15.50%
Market Cap: 212
  

Kraken

Monero on Kraken in USD

 82.04 
18.83  18.67%
Market Cap: 8.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Kraken Monero. In addition to that, LiveCoin CapriCoin is 1.68 times more volatile than Kraken Monero USD. It trades about -0.13 of its total potential returns per unit of risk. Kraken Monero USD is currently generating about -0.16 per unit of volatility. If you would invest  10,319  in Kraken Monero USD on October 18, 2018 and sell it today you would lose (1,819)  from holding Kraken Monero USD or give up 17.63% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and Kraken Monero

-0.14
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

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 Kraken Monero USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Monero 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 Kraken Monero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Monero USD has no effect on the direction of LiveCoin CapriCoin i.e. LiveCoin CapriCoin and Kraken Monero 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.
Kraken Monero USD  
0 

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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