Correlation Analysis Between EXRATES Dogecoin and LiveCoin Dash

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

EXRATES Dogecoin USD  
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Risk-Adjusted Performance

Over the last 30 days EXRATES Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of weak performance in the last few months, the Crypto's forward-looking signals remain relatively invariable which may send shares a bit higher in October 2019. The latest agitation may also be a sign of long running up-swing for the entity management.
LiveCoin Dash USD  
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Risk-Adjusted Performance

Over the last 30 days LiveCoin Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly weak fundamental indicators, LiveCoin Dash layed out solid returns over the last few months and may actually be approaching a breakup point.

EXRATES Dogecoin and LiveCoin Dash Volatility Contrast

EXRATES Dogecoin USD  vs.  LiveCoin Dash USD

EXRATES

Dogecoin on EXRATES in USD

 0.002435 
(0.00004)  1.62%
Market Cap: 1.7 K
  

LiveCoin

Dash on LiveCoin in USD

 94.53 
2.65  2.88%
Market Cap: 1.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Dogecoin USD is expected to under-perform the LiveCoin Dash. In addition to that, EXRATES Dogecoin is 4.01 times more volatile than LiveCoin Dash USD. It trades about -0.71 of its total potential returns per unit of risk. LiveCoin Dash USD is currently generating about 0.71 per unit of volatility. If you would invest  9,188  in LiveCoin Dash USD on August 17, 2019 and sell it today you would earn a total of  37.00  from holding LiveCoin Dash USD or generate 0.4% return on investment over 30 days.

Pair Corralation between EXRATES Dogecoin and LiveCoin Dash

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for EXRATES Dogecoin and LiveCoin Dash

EXRATES Dogecoin USD diversification synergy

Pay attention

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