Correlation Analysis Between LiveCoin Emercoin and Bitfinex SingularDTV

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

LiveCoin Emercoin USD  vs.  Bitfinex SingularDTV USD

LiveCoin

Emercoin on LiveCoin in USD

 0.33 
0.0132  4.18%
Market Cap: 90.0
  

Bitfinex

SingularDTV on Bitfinex in USD

 0.008424 
(0.005806)  40.80%
Market Cap: 30.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 0.66 times more return on investment than Bitfinex SingularDTV. However, LiveCoin Emercoin USD is 1.51 times less risky than Bitfinex SingularDTV. It trades about -0.18 of its potential returns per unit of risk. Bitfinex SingularDTV USD is currently generating about -0.13 per unit of risk. If you would invest  94.75  in LiveCoin Emercoin USD on November 13, 2018 and sell it today you would lose (61.87)  from holding LiveCoin Emercoin USD or give up 65.3% of portfolio value over 30 days.

Pair Corralation between LiveCoin Emercoin and Bitfinex SingularDTV

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.73%
ValuesDaily Returns

Diversification

LiveCoin Emercoin USD diversification synergy

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Emercoin USD  
0

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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