Correlation Analysis Between LiveCoin Emercoin and CCEX Dogecoin

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

LiveCoin Emercoin USD  vs.  CCEX Dogecoin USD

LiveCoin

Emercoin on LiveCoin in USD

 1.30 
0.02  1.56%
Market Cap: 116
  

CCEX

Dogecoin on CCEX in USD

 0.005721 
0.000011  0.19%
Market Cap: 724
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to under-perform the CCEX Dogecoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Emercoin USD is 1.53 times less risky than CCEX Dogecoin. The crypto trades about -0.06 of its potential returns per unit of risk. The CCEX Dogecoin USD is currently generating about 0.35 of returns per unit of risk over similar time horizon. If you would invest  0.22  in CCEX Dogecoin USD on August 23, 2018 and sell it today you would earn a total of  0.35  from holding CCEX Dogecoin USD or generate 160.55% return on investment over 30 days.

Pair Corralation between LiveCoin Emercoin and CCEX Dogecoin

-0.76
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy95.65%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Emercoin USD and CCEX Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX Dogecoin 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 CCEX Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX Dogecoin USD has no effect on the direction of LiveCoin Emercoin i.e. LiveCoin Emercoin and CCEX Dogecoin 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.
CCEX Dogecoin USD  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Dogecoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.

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