Correlation Analysis Between LiveCoin E-Dinar and Bitfinex NEO

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

LiveCoin E-Dinar Coin USD  vs.  Bitfinex NEO USD

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00838 
0.00024  2.78%
Market Cap: 39.0
  

Bitfinex

NEO on Bitfinex in USD

 19.41 
0.53  2.81%
Market Cap: 98.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar is expected to generate 3.16 times less return on investment than Bitfinex NEO. In addition to that, LiveCoin E-Dinar is 1.56 times more volatile than Bitfinex NEO USD. It trades about 0.02 of its total potential returns per unit of risk. Bitfinex NEO USD is currently generating about 0.08 per unit of volatility. If you would invest  1,798  in Bitfinex NEO USD on August 24, 2018 and sell it today you would earn a total of  143.00  from holding Bitfinex NEO USD or generate 7.95% return on investment over 30 days.

Pair Corralation between LiveCoin E-Dinar and Bitfinex NEO

0.64
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin E-Dinar Coin  
1 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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