Correlation Analysis Between Bitfinex Ethereum and LiveCoin Ethereum

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

Comparative Performance

Bitfinex Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Bitfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin Ethereum USD  
0

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.

Bitfinex Ethereum and LiveCoin Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Ethereum USD  vs.  LiveCoin Ethereum USD

Bitfinex

Ethereum on Bitfinex in USD

 107.81 
0.92  0.86%
Market Cap: 1.4 B
  

LiveCoin

Ethereum on LiveCoin in USD

 103.50 
2.78  2.76%
Market Cap: 3.2 M
 4.31 
4.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Ethereum USD is expected to generate 1.15 times more return on investment than LiveCoin Ethereum. However, Bitfinex Ethereum is 1.15 times more volatile than LiveCoin Ethereum USD. It trades about -0.21 of its potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about -0.28 per unit of risk. If you would invest  20,446  in Bitfinex Ethereum USD on November 19, 2018 and sell it today you would lose (9,757)  from holding Bitfinex Ethereum USD or give up 47.72% of portfolio value over 30 days.

Pair Corralation between Bitfinex Ethereum and LiveCoin Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Ethereum and LiveCoin Ethereum

Bitfinex Ethereum USD diversification synergy

Almost no diversification

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

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