Pair Correlation 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.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Bitfinex Ethereum USD  vs   LiveCoin Ethereum USD

Bitfinex

Ethereum on Bitfinex in USD
 725.18 
7.17  1%
Market Cap: 2.2 B
(12.81)

LiveCoin

Ethereum on LiveCoin in USD
 737.99 
23.04  3.22%
Market Cap: 73.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Ethereum USD is expected to generate 0.9 times more return on investment than LiveCoin Ethereum. However, Bitfinex Ethereum USD is 1.11 times less risky than LiveCoin Ethereum. It trades about 0.38 of its potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about 0.33 per unit of risk. If you would invest  34,695  in Bitfinex Ethereum USD on November 18, 2017 and sell it today you would earn a total of  35,705  from holding Bitfinex Ethereum USD or generate 102.91% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitfinex Ethereum and LiveCoin Ethereum
0.96

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.77%
ValuesDaily Returns

Diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitfinex Ethereum USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Ethereum USD

  
21 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Ethereum USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.