Correlation Analysis Between LiveCoin E-Dinar and LiveCoin NEM

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

LiveCoin E-Dinar Coin USD  vs.  LiveCoin NEM USD

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00855 
(0.00097)  10.19%
Market Cap: 564
  

LiveCoin

NEM on LiveCoin in USD

 0.07 
(0.00569)  7.66%
Market Cap: 9.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar Coin USD is expected to generate 1.44 times more return on investment than LiveCoin NEM. However, LiveCoin E-Dinar is 1.44 times more volatile than LiveCoin NEM USD. It trades about -0.01 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.09 per unit of risk. If you would invest  1.07  in LiveCoin E-Dinar Coin USD on November 11, 2018 and sell it today you would lose (0.22)  from holding LiveCoin E-Dinar Coin USD or give up 20.17% of portfolio value over 30 days.

Pair Corralation between LiveCoin E-Dinar and LiveCoin NEM

0.66
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

LiveCoin E-Dinar Coin USD diversification synergy

Poor diversification

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

Risk-Adjusted Performance

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

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