Correlation Analysis Between LiveCoin Emercoin and Coinroom ZCoin

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

LiveCoin Emercoin USD  vs.  Coinroom ZCoin USD

LiveCoin

Emercoin on LiveCoin in USD
 2.80 
0.02  0.72%
Market Cap: 7.9 K
  

Coinroom

ZCoin on Coinroom in USD
 20.03 
0.34  1.67%
Market Cap: 382.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 0.42 times more return on investment than Coinroom ZCoin. However, LiveCoin Emercoin USD is 2.39 times less risky than Coinroom ZCoin. It trades about 0.06 of its potential returns per unit of risk. Coinroom ZCoin USD is currently generating about -0.17 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  11.00  from holding LiveCoin Emercoin USD or generate 4.12% return on investment over 30 days.

Pair Corralation between LiveCoin Emercoin and Coinroom ZCoin

-0.53
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Emercoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Emercoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Coinroom ZCoin USD  
0 

Risk-Adjusted Performance

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

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ExchangeNASDAQ
$1173.46

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.