Correlation Analysis Between LiveCoin Dash and coinfield Dash

This module allows you to analyze existing cross correlation between LiveCoin Dash USD and coinfield Dash USD. You can compare the effects of market volatilities on LiveCoin Dash and coinfield Dash 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 Dash with a short position of coinfield Dash. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin Dash and coinfield Dash.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

LiveCoin Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
coinfield Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

LiveCoin Dash and coinfield Dash Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Dash USD  vs.  coinfield Dash USD

LiveCoin

Dash on LiveCoin in USD

 93.30 
(2.08)  2.18%
Market Cap: 1.9 M
  

coinfield

Dash on coinfield in USD

 91.00 
(2.80)  2.99%
Market Cap: 3.8 M
 2.30 
2.47% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Dash USD is expected to generate 0.94 times more return on investment than coinfield Dash. However, LiveCoin Dash USD is 1.07 times less risky than coinfield Dash. It trades about -0.19 of its potential returns per unit of risk. coinfield Dash USD is currently generating about -0.19 per unit of risk. If you would invest  15,831  in LiveCoin Dash USD on July 19, 2019 and sell it today you would lose (6,501)  from holding LiveCoin Dash USD or give up 41.06% of portfolio value over 30 days.

Pair Corralation between LiveCoin Dash and coinfield Dash

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Dash and coinfield Dash

LiveCoin Dash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Dash USD and coinfield Dash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield Dash USD and LiveCoin Dash 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 Dash USD are associated (or correlated) with coinfield Dash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield Dash USD has no effect on the direction of LiveCoin Dash i.e. LiveCoin Dash and coinfield Dash go up and down completely randomly.
See also your portfolio center. Please also try Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.


 
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