Correlation Analysis Between LiveCoin Emercoin and Bitfinex Recovery

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

LiveCoin Emercoin USD  vs.  Bitfinex Recovery Right Tokens

LiveCoin

Emercoin on LiveCoin in USD
 2.79 
0.04  1.45%
Market Cap: 29.6 K
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.06 
0.002  3.39%
Market Cap: 947
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 0.39 times more return on investment than Bitfinex Recovery. However, LiveCoin Emercoin USD is 2.57 times less risky than Bitfinex Recovery. It trades about 0.04 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.01 per unit of risk. If you would invest  267.00  in LiveCoin Emercoin USD on May 22, 2018 and sell it today you would earn a total of  8.00  from holding LiveCoin Emercoin USD or generate 3.0% return on investment over 30 days.

Pair Corralation between LiveCoin Emercoin and Bitfinex Recovery

-0.53
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Emercoin USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Emercoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Recovery Right  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens 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
$1157.66

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 Equity Valuation module to check real value of public entities based on technical and fundamental data.