Correlation Analysis Between LiveCoin LEOcoin and Bitstamp Bitcoin

This module allows you to analyze existing cross correlation between LiveCoin LEOcoin USD and Bitstamp Bitcoin USD. You can compare the effects of market volatilities on LiveCoin LEOcoin and Bitstamp Bitcoin 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 Bitstamp Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin LEOcoin and Bitstamp Bitcoin.
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.
Bitstamp Bitcoin USD  
0

Risk-Adjusted Performance

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

LiveCoin LEOcoin and Bitstamp Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin LEOcoin USD  vs.  Bitstamp Bitcoin USD

LiveCoin

LEOcoin on LiveCoin in USD

 0.07 
0.00103  1.44%
Market Cap: 251
  

Bitstamp

Bitcoin on Bitstamp in USD

 3,596 
(295.54)  7.59%
Market Cap: 35.1 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to generate 3.72 times more return on investment than Bitstamp Bitcoin. However, LiveCoin LEOcoin is 3.72 times more volatile than Bitstamp Bitcoin USD. It trades about 0.08 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about 0.03 per unit of risk. If you would invest  6.24  in LiveCoin LEOcoin USD on January 20, 2019 and sell it today you would earn a total of  1.00  from holding LiveCoin LEOcoin USD or generate 16.08% return on investment over 30 days.

Pair Corralation between LiveCoin LEOcoin and Bitstamp Bitcoin

-0.21
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin LEOcoin and Bitstamp Bitcoin

LiveCoin LEOcoin USD diversification synergy

Very good diversification

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

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LiveCoin LEOcoin USD

Pair trading matchups for LiveCoin LEOcoin

See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.


 
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