Correlation Analysis Between LiveCoin Diamond and Exmo Monero

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

LiveCoin Diamond USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Diamond USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly fragile fundamental indicators, LiveCoin Diamond layed out solid returns over the last few months and may actually be approaching a breakup point.
Exmo Monero USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with fragile performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in October 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.

LiveCoin Diamond and Exmo Monero Volatility Contrast

LiveCoin Diamond USD  vs.  Exmo Monero USD

LiveCoin

Diamond on LiveCoin in USD

 0.76 
0.006  0.80%
Market Cap: 166
  

Exmo

Monero on Exmo in USD

 73.73 
(0.81)  1.09%
Market Cap: 5.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Diamond USD is expected to generate 0.88 times more return on investment than Exmo Monero. However, LiveCoin Diamond USD is 1.14 times less risky than Exmo Monero. It trades about 0.71 of its potential returns per unit of risk. Exmo Monero USD is currently generating about -0.71 per unit of risk. If you would invest  74.99  in LiveCoin Diamond USD on August 22, 2019 and sell it today you would earn a total of  0.60  from holding LiveCoin Diamond USD or generate 0.8% return on investment over 30 days.

Pair Corralation between LiveCoin Diamond and Exmo Monero

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

Diversification Opportunities for LiveCoin Diamond and Exmo Monero

LiveCoin Diamond USD diversification synergy

Pay attention

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