Correlation Analysis Between LiveCoin LEOcoin and Coinroom ZCoin

This module allows you to analyze existing cross correlation between LiveCoin LEOcoin USD and Coinroom ZCoin USD. You can compare the effects of market volatilities on LiveCoin LEOcoin and Coinroom ZCoin 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 Coinroom ZCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin LEOcoin and Coinroom ZCoin.
Horizon     30 Days    Login   to change
Symbolsvs

LiveCoin LEOcoin USD  vs.  Coinroom ZCoin USD

LiveCoin

LEOcoin on LiveCoin in USD

 0.12 
0.0071  5.42%
Market Cap: 59.0
  

Coinroom

ZCoin on Coinroom in USD

 9.04 
0.74  7.57%
Market Cap: 164.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to generate 0.54 times more return on investment than Coinroom ZCoin. However, LiveCoin LEOcoin USD is 1.84 times less risky than Coinroom ZCoin. It trades about -0.26 of its potential returns per unit of risk. Coinroom ZCoin USD is currently generating about -0.18 per unit of risk. If you would invest  16.83  in LiveCoin LEOcoin USD on August 26, 2018 and sell it today you would lose (4.45)  from holding LiveCoin LEOcoin USD or give up 26.44% of portfolio value over 30 days.

Pair Corralation between LiveCoin LEOcoin and Coinroom ZCoin

0.91
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Coinroom ZCoin USD  
0 

Risk-Adjusted Performance

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

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