Correlation Analysis Between LiveCoin Emercoin and Cexio Stellar

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

Comparative Performance

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.
Cexio Stellar USD  
0

Risk-Adjusted Performance

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

LiveCoin Emercoin and Cexio Stellar Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Emercoin USD  vs.  Cexio Stellar USD

LiveCoin

Emercoin on LiveCoin in USD

 0.35 
0.0158  4.78%
Market Cap: 90.0
  

Cexio

Stellar on Cexio in USD

 0.10 
(0.001)  0.95%
Market Cap: 22.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to under-perform the Cexio Stellar. In addition to that, LiveCoin Emercoin is 1.77 times more volatile than Cexio Stellar USD. It trades about -0.16 of its total potential returns per unit of risk. Cexio Stellar USD is currently generating about -0.27 per unit of volatility. If you would invest  22.53  in Cexio Stellar USD on November 14, 2018 and sell it today you would lose (12.10)  from holding Cexio Stellar USD or give up 53.71% of portfolio value over 30 days.

Pair Corralation between LiveCoin Emercoin and Cexio Stellar

0.82
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Emercoin and Cexio Stellar

LiveCoin Emercoin USD diversification synergy

Very poor diversification

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

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