Correlation Analysis Between LiveCoin E-Dinar and Cexio Stellar

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

LiveCoin E-Dinar Coin USD  vs.  Cexio Stellar USD

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00839 
0.00005  0.60%
Market Cap: 39.0
  

Cexio

Stellar on Cexio in USD

 0.26 
0.0255  10.71%
Market Cap: 1.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar Coin USD is expected to under-perform the Cexio Stellar. In addition to that, LiveCoin E-Dinar is 1.88 times more volatile than Cexio Stellar USD. It trades about -0.03 of its total potential returns per unit of risk. Cexio Stellar USD is currently generating about 0.12 per unit of volatility. If you would invest  22.52  in Cexio Stellar USD on August 25, 2018 and sell it today you would earn a total of  2.83  from holding Cexio Stellar USD or generate 12.57% return on investment over 30 days.

Pair Corralation between LiveCoin E-Dinar and Cexio Stellar

0.46
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy95.45%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin E-Dinar Coin USD and Cexio Stellar USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Stellar 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 Cexio Stellar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Stellar USD has no effect on the direction of LiveCoin E-Dinar i.e. LiveCoin E-Dinar and Cexio Stellar 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.
Cexio Stellar USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Stellar USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

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