Pair Correlation Between Bitstamp Ethereum and LiveCoin Ethereum

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

Bitstamp

Ethereum on Bitstamp in USD
 702.36 
28.16  4.18%
Market Cap: 746.3 M
 7.36 

LiveCoin

Ethereum on LiveCoin in USD
 695 
(21)  2.93%
Market Cap: 73.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to generate 1.08 times more return on investment than LiveCoin Ethereum. However, Bitstamp Ethereum is 1.08 times more volatile than LiveCoin Ethereum USD. It trades about 0.33 of its potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about 0.34 per unit of risk. If you would invest  32,955  in Bitstamp Ethereum USD on November 15, 2017 and sell it today you would earn a total of  37,281  from holding Bitstamp Ethereum USD or generate 113.13% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitstamp Ethereum and LiveCoin Ethereum
0.74

Parameters

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

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp 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 Bitstamp 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 Bitstamp 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 Bitstamp Ethereum i.e. Bitstamp Ethereum and LiveCoin Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitstamp Ethereum USD

  
21 

Risk-Adjusted Performance

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

LiveCoin Ethereum USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Ethereum USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.