Correlation Analysis Between LiveCoin CapriCoin and Neraex Bitcoin

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

Comparative Performance

LiveCoin CapriCoin USD  
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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 fragile performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
Neraex Bitcoin USD  
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Risk-Adjusted Performance

Over the last 30 days Neraex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, Neraex Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

LiveCoin CapriCoin and Neraex Bitcoin Volatility Contrast

LiveCoin CapriCoin USD  vs.  Neraex Bitcoin USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.08 
(0.00907)  9.99%
Market Cap: 217
  

Neraex

Bitcoin on Neraex in USD

 10,426 
320.26  3.17%
Market Cap: 11.7 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Neraex Bitcoin. In addition to that, LiveCoin CapriCoin is 4.59 times more volatile than Neraex Bitcoin USD. It trades about -0.71 of its total potential returns per unit of risk. Neraex Bitcoin USD is currently generating about 0.71 per unit of volatility. If you would invest  1,010,525  in Neraex Bitcoin USD on August 20, 2019 and sell it today you would earn a total of  12,183  from holding Neraex Bitcoin USD or generate 1.21% return on investment over 30 days.

Pair Corralation between LiveCoin CapriCoin and Neraex Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin CapriCoin and Neraex Bitcoin

LiveCoin CapriCoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin CapriCoin USD and Neraex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Neraex 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 Neraex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neraex Bitcoin USD has no effect on the direction of LiveCoin CapriCoin i.e. LiveCoin CapriCoin and Neraex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
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