Correlation Analysis Between LiveCoin Ethereum and Chevron

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

Comparative Performance

LiveCoin Ethereum USD  

Risk-Adjusted Performance

Over the last 30 days LiveCoin Ethereum 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 January 2020. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Risk-Adjusted Performance

Over the last 30 days Chevron Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Chevron is not utilizing all of its potentials. The ongoing stock price disturbance, may contribute to short term losses for the investors.

LiveCoin Ethereum and Chevron Volatility Contrast

LiveCoin Ethereum USD  vs.  Chevron Corp.

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Ethereum USD is expected to under-perform the Chevron. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Ethereum USD is 1.22 times less risky than Chevron. The crypto trades about -0.71 of its potential returns per unit of risk. The Chevron Corporation is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  12,412  in Chevron Corporation on November 14, 2019 and sell it today you would lose (616.00)  from holding Chevron Corporation or give up 4.96% of portfolio value over 30 days.

Pair Corralation between LiveCoin Ethereum and Chevron

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for LiveCoin Ethereum and Chevron

LiveCoin Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Ethereum USD and Chevron Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Chevron and LiveCoin Ethereum 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 Ethereum USD are associated (or correlated) with Chevron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chevron has no effect on the direction of LiveCoin Ethereum i.e. LiveCoin Ethereum and Chevron go up and down completely randomly.
See also your portfolio center. Please also try My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.