Correlation Analysis Between LiveCoin LEOcoin and CCEX AlpaCoin

This module allows you to analyze existing cross correlation between LiveCoin LEOcoin USD and CCEX AlpaCoin USD. You can compare the effects of market volatilities on LiveCoin LEOcoin and CCEX AlpaCoin 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 CCEX AlpaCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin LEOcoin and CCEX AlpaCoin.
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.
CCEX AlpaCoin USD  
4

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX AlpaCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

LiveCoin LEOcoin and CCEX AlpaCoin Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin LEOcoin USD  vs.  CCEX AlpaCoin USD

LiveCoin

LEOcoin on LiveCoin in USD

 0.06 
0.00608  10.86%
Market Cap: 36.0
  

CCEX

AlpaCoin on CCEX in USD

 0.001101 
(0.013899)  92.66%
Market Cap: 83.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to under-perform the CCEX AlpaCoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin LEOcoin USD is 3.95 times less risky than CCEX AlpaCoin. The crypto trades about -0.11 of its potential returns per unit of risk. The CCEX AlpaCoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  0.58  in CCEX AlpaCoin USD on November 15, 2018 and sell it today you would lose (0.47)  from holding CCEX AlpaCoin USD or give up 80.86% of portfolio value over 30 days.

Pair Corralation between LiveCoin LEOcoin and CCEX AlpaCoin

-0.18
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin LEOcoin and CCEX AlpaCoin

LiveCoin LEOcoin USD diversification synergy

Good diversification

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

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See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.


 
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