Pair Correlation Between LiveCoin CapriCoin and LiveCoin FastCoin

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

LiveCoin

CapriCoin on LiveCoin in USD
 0.39 
(0.24)  37.9%
Market Cap: 2.0

LiveCoin

FastCoin on LiveCoin in USD
 0.0119 
0.0027  29.35%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin is expected to generate 1.87 times less return on investment than LiveCoin FastCoin. In addition to that, LiveCoin CapriCoin is 1.25 times more volatile than LiveCoin FastCoin USD. It trades about 0.07 of its total potential returns per unit of risk. LiveCoin FastCoin USD is currently generating about 0.17 per unit of volatility. If you would invest  0.7  in LiveCoin FastCoin USD on November 14, 2017 and sell it today you would earn a total of  0.49  from holding LiveCoin FastCoin USD or generate 69.76% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin CapriCoin and LiveCoin FastCoin
0.27

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin CapriCoin USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

LiveCoin FastCoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin FastCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

LiveCoin FastCoin USD

Pair trading matchups for LiveCoin FastCoin