Correlation Analysis Between LiveCoin LEOcoin and LiveCoin NEM

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

LiveCoin LEOcoin USD  vs.  LiveCoin NEM USD

LiveCoin

LEOcoin on LiveCoin in USD

 0.13 
0.003  2.37%
Market Cap: 59.0
  

LiveCoin

NEM on LiveCoin in USD

 0.09 
0.01751  16.68%
Market Cap: 692
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to under-perform the LiveCoin NEM. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin LEOcoin USD is 1.15 times less risky than LiveCoin NEM. The crypto trades about -0.3 of its potential returns per unit of risk. The LiveCoin NEM USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  10.59  in LiveCoin NEM USD on August 23, 2018 and sell it today you would lose (0.09)  from holding LiveCoin NEM USD or give up 0.85% of portfolio value over 30 days.

Pair Corralation between LiveCoin LEOcoin and LiveCoin NEM

0.65
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Poor diversification

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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