Correlation Analysis Between LiveCoin CapriCoin and LiveCoin E-Dinar

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

Comparative Performance

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.
LiveCoin E-Dinar Coin  
0

Risk-Adjusted Performance

Over the last 30 days LiveCoin E-Dinar Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

LiveCoin CapriCoin and LiveCoin E-Dinar Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin CapriCoin USD  vs.  LiveCoin E-Dinar Coin USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.48 
(0.10)  17.75%
Market Cap: 955
  

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00828 
(0.00077)  8.51%
Market Cap: 564
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the LiveCoin E-Dinar. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin CapriCoin USD is 1.03 times less risky than LiveCoin E-Dinar. The crypto trades about -0.22 of its potential returns per unit of risk. The LiveCoin E-Dinar Coin USD is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest  1.20  in LiveCoin E-Dinar Coin USD on November 17, 2018 and sell it today you would lose (0.38)  from holding LiveCoin E-Dinar Coin USD or give up 31.17% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and LiveCoin E-Dinar

0.27
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy82.93%
ValuesDaily Returns

Diversification Opportunities for LiveCoin CapriCoin and LiveCoin E-Dinar

LiveCoin CapriCoin USD diversification synergy

Modest diversification

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

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