Correlation Analysis Between LiveCoin CapriCoin and LiveCoin NEM

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

LiveCoin CapriCoin USD  vs.  LiveCoin NEM USD

LiveCoin

CapriCoin on LiveCoin in USD
 1.16 
0.03  2.52%
Market Cap: 4.4 K
  

LiveCoin

NEM on LiveCoin in USD
 0.17 
0.0005  0.29%
Market Cap: 13.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to generate 1.19 times more return on investment than LiveCoin NEM. However, LiveCoin CapriCoin is 1.19 times more volatile than LiveCoin NEM USD. It trades about 0.08 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about 0.03 per unit of risk. If you would invest  110.00  in LiveCoin CapriCoin USD on June 22, 2018 and sell it today you would earn a total of  9.00  from holding LiveCoin CapriCoin USD or generate 8.18% return on investment over 30 days.

Pair Corralation between LiveCoin CapriCoin and LiveCoin NEM

0.54
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin CapriCoin USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
LiveCoin NEM USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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