Correlation Analysis Between LiveCoin LEOcoin and Bitfinex Recovery

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

Comparative Performance

LiveCoin LEOcoin USD  
0

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.

LiveCoin LEOcoin and Bitfinex Recovery Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin LEOcoin USD  vs.  Bitfinex Recovery Right Tokens

LiveCoin

LEOcoin on LiveCoin in USD

 0.06 
(0.01114)  16.02%
Market Cap: 36.0
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.03574 
0.00  0.00%
Market Cap: 145
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to under-perform the Bitfinex Recovery. In addition to that, LiveCoin LEOcoin is 1.72 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about -0.13 of its total potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.06 per unit of volatility. If you would invest  4.14  in Bitfinex Recovery Right Tokens USD on November 14, 2018 and sell it today you would lose (0.56)  from holding Bitfinex Recovery Right Tokens USD or give up 13.65% of portfolio value over 30 days.

Pair Corralation between LiveCoin LEOcoin and Bitfinex Recovery

0.05
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.56%
ValuesDaily Returns

Diversification Opportunities for LiveCoin LEOcoin and Bitfinex Recovery

LiveCoin LEOcoin USD diversification synergy

Significant diversification

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

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