This module allows you to analyze existing cross correlation between LiveCoin Emercoin USD and Bitfinex NEO USD. You can compare the effects of market volatilities on LiveCoin Emercoin 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 Emercoin with a short position of Bitfinex NEO. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Emercoin
and Bitfinex NEO
LiveCoin Emercoin USD vs Bitfinex NEO USD
Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 1.05 times more return on investment than Bitfinex NEO. However, LiveCoin Emercoin is 1.05 times more volatile than Bitfinex NEO USD. It trades about -0.1 of its potential returns per unit of risk. Bitfinex NEO USD is currently generating about -0.22 per unit of risk. If you would invest 518.00 in LiveCoin Emercoin USD on February 18, 2018 and sell it today you would lose (143.00) from holding LiveCoin Emercoin USD or give up 27.61% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Emercoin 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 Emercoin 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 Emercoin 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 Emercoin i.e. LiveCoin Emercoin and Bitfinex NEO go up and down completely randomly.
Over the last 30 days LiveCoin Emercoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Bitfinex NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.