Correlation Analysis Between LiveCoin CapriCoin and LiveCoin NEO

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

LiveCoin CapriCoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin CapriCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly weak fundamental indicators, LiveCoin CapriCoin may actually be approaching a critical reversion point that can send shares even higher in October 2019.
LiveCoin NEO USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

LiveCoin CapriCoin and LiveCoin NEO Volatility Contrast

LiveCoin CapriCoin USD  vs.  LiveCoin NEO USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.09 
0.00132  1.47%
Market Cap: 217
  

LiveCoin

NEO on LiveCoin in USD

 9.44 
(0.18)  1.88%
Market Cap: 1.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to generate 0.1 times more return on investment than LiveCoin NEO. However, LiveCoin CapriCoin USD is 10.09 times less risky than LiveCoin NEO. It trades about 0.71 of its potential returns per unit of risk. LiveCoin NEO USD is currently generating about -0.71 per unit of risk. If you would invest  8.97  in LiveCoin CapriCoin USD on August 17, 2019 and sell it today you would earn a total of  0.03  from holding LiveCoin CapriCoin USD or generate 0.33% return on investment over 30 days.

Pair Corralation between LiveCoin CapriCoin and LiveCoin NEO

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

Diversification Opportunities for LiveCoin CapriCoin and LiveCoin NEO

LiveCoin CapriCoin USD diversification synergy

Pay attention

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