Correlation Analysis Between LiveCoin LEOcoin and CCEX Dogecoin

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

Risk-Adjusted Performance

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

LiveCoin LEOcoin and CCEX Dogecoin Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin LEOcoin USD  vs.  CCEX Dogecoin USD

LiveCoin

LEOcoin on LiveCoin in USD

 0.07 
0.01408  24.11%
Market Cap: 36.0
  

CCEX

Dogecoin on CCEX in USD

 0.0021 
(0.00002)  0.94%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to generate 0.98 times more return on investment than CCEX Dogecoin. However, LiveCoin LEOcoin USD is 1.02 times less risky than CCEX Dogecoin. It trades about -0.09 of its potential returns per unit of risk. CCEX Dogecoin USD is currently generating about -0.19 per unit of risk. If you would invest  11.01  in LiveCoin LEOcoin USD on November 17, 2018 and sell it today you would lose (3.93)  from holding LiveCoin LEOcoin USD or give up 35.69% of portfolio value over 30 days.

Pair Corralation between LiveCoin LEOcoin and CCEX Dogecoin

0.87
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for LiveCoin LEOcoin and CCEX Dogecoin

LiveCoin LEOcoin USD diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin LEOcoin 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 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 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 LEOcoin i.e. LiveCoin LEOcoin and CCEX Dogecoin go up and down completely randomly.

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