This module allows you to analyze existing cross correlation between LiveCoin Hellenic Coin USD and CCEX Dogecoin USD. You can compare the effects of market volatilities on LiveCoin Hellenic 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 Hellenic with a short position of CCEX Dogecoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Hellenic
and CCEX Dogecoin
LiveCoin Hellenic Coin USD vs CCEX Dogecoin USD
Assuming 30 trading days horizon, LiveCoin Hellenic Coin USD is expected to generate 3.5 times more return on investment than CCEX Dogecoin. However, LiveCoin Hellenic is 3.5 times more volatile than CCEX Dogecoin USD. It trades about -0.05 of its potential returns per unit of risk. CCEX Dogecoin USD is currently generating about -0.34 per unit of risk. If you would invest 0.59 in LiveCoin Hellenic Coin USD on February 16, 2018 and sell it today you would lose (0.33) from holding LiveCoin Hellenic Coin USD or give up 55.5% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Hellenic Coin 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 Hellenic 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 Hellenic Coin 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 Hellenic i.e. LiveCoin Hellenic and CCEX Dogecoin go up and down completely randomly.
Over the last 30 days LiveCoin Hellenic Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days CCEX Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.