Correlation Analysis Between LiveCoin E-Dinar and Bitfinex ZCash

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

LiveCoin E-Dinar Coin USD  vs.  Bitfinex ZCash USD

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00881 
0.00019  2.20%
Market Cap: 39.0
  

Bitfinex

ZCash on Bitfinex in USD

 132.50 
1.80  1.38%
Market Cap: 109.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar Coin USD is expected to generate 2.03 times more return on investment than Bitfinex ZCash. However, LiveCoin E-Dinar is 2.03 times more volatile than Bitfinex ZCash USD. It trades about -0.01 of its potential returns per unit of risk. Bitfinex ZCash USD is currently generating about -0.09 per unit of risk. If you would invest  1.01  in LiveCoin E-Dinar Coin USD on August 27, 2018 and sell it today you would lose (0.13)  from holding LiveCoin E-Dinar Coin USD or give up 12.51% of portfolio value over 30 days.

Pair Corralation between LiveCoin E-Dinar and Bitfinex ZCash

0.74
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy91.3%
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 ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex ZCash 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 ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex ZCash USD has no effect on the direction of LiveCoin E-Dinar i.e. LiveCoin E-Dinar and Bitfinex ZCash go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin E-Dinar Coin  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin E-Dinar Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex ZCash USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1166.09

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com