Correlation Analysis Between LiveCoin Dash and Neraex Bitcoin

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

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 nearly fragile fundamental indicators, LiveCoin Dash layed out solid returns over the last few months and may actually be approaching a breakup point.
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 Dash and Neraex Bitcoin Volatility Contrast

LiveCoin Dash USD  vs.  Neraex Bitcoin USD

LiveCoin

Dash on LiveCoin in USD

 101.47 
9.45  10.27%
Market Cap: 1.4 M
  

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 Dash USD is expected to generate 13.5 times more return on investment than Neraex Bitcoin. However, LiveCoin Dash is 13.5 times more volatile than Neraex Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. Neraex Bitcoin USD is currently generating about 0.71 per unit of risk. If you would invest  9,202  in LiveCoin Dash USD on August 20, 2019 and sell it today you would earn a total of  1,498  from holding LiveCoin Dash USD or generate 16.28% return on investment over 30 days.

Pair Corralation between LiveCoin Dash and Neraex Bitcoin

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

Diversification Opportunities for LiveCoin Dash and Neraex Bitcoin

LiveCoin Dash USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Dash 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 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 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 Dash i.e. LiveCoin Dash and Neraex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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