Correlation Analysis Between LiveCoin NovaCoin and Ethfinex SingularDTV

This module allows you to analyze existing cross correlation between LiveCoin NovaCoin USD and Ethfinex SingularDTV USD. You can compare the effects of market volatilities on LiveCoin NovaCoin and Ethfinex SingularDTV 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 NovaCoin with a short position of Ethfinex SingularDTV. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin NovaCoin and Ethfinex SingularDTV.
Horizon     30 Days    Login   to change
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Comparative Performance

LiveCoin NovaCoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin NovaCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin NovaCoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.
Ethfinex SingularDTV USD  
00

Risk-Adjusted Performance

Over the last 30 days Ethfinex SingularDTV USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Ethfinex SingularDTV is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

LiveCoin NovaCoin and Ethfinex SingularDTV Volatility Contrast

LiveCoin NovaCoin USD  vs.  Ethfinex SingularDTV USD

LiveCoin

NovaCoin on LiveCoin in USD

 0.40 
0.00  0.00%
Market Cap: 31.0
  

Ethfinex

SingularDTV on Ethfinex in USD

 0.008098 
0.00  0.00%
Market Cap: 162
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.81  in Ethfinex SingularDTV USD on August 21, 2019 and sell it today you would earn a total of  0.00  from holding Ethfinex SingularDTV USD or generate 0.0% return on investment over 30 days.

Pair Corralation between LiveCoin NovaCoin and Ethfinex SingularDTV

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy66.67%
ValuesDaily Returns

Diversification Opportunities for LiveCoin NovaCoin and Ethfinex SingularDTV

LiveCoin NovaCoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin NovaCoin USD and Ethfinex SingularDTV USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Ethfinex SingularDTV USD and LiveCoin NovaCoin 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 NovaCoin USD are associated (or correlated) with Ethfinex SingularDTV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ethfinex SingularDTV USD has no effect on the direction of LiveCoin NovaCoin i.e. LiveCoin NovaCoin and Ethfinex SingularDTV go up and down completely randomly.
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
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