Correlation Analysis Between LiveCoin Karbo and LiveCoin NEM

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

Comparative Performance

LiveCoin Karbo USD  
0

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

LiveCoin Karbo and LiveCoin NEM Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Karbo USD  vs.  LiveCoin NEM USD

LiveCoin

Karbo on LiveCoin in USD

 0.06 
0.00  0.00%
Market Cap: 51.0
  

LiveCoin

NEM on LiveCoin in USD

 0.06 
0.00041  0.67%
Market Cap: 2.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Karbo USD is expected to under-perform the LiveCoin NEM. In addition to that, LiveCoin Karbo is 1.24 times more volatile than LiveCoin NEM USD. It trades about -0.2 of its total potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.13 per unit of volatility. If you would invest  9.42  in LiveCoin NEM USD on November 17, 2018 and sell it today you would lose (3.30)  from holding LiveCoin NEM USD or give up 34.99% of portfolio value over 30 days.

Pair Corralation between LiveCoin Karbo and LiveCoin NEM

0.88
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy88.37%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Karbo and LiveCoin NEM

LiveCoin Karbo USD diversification synergy

Very poor diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.


 
Search macroaxis.com