Pair Correlation Between BitTrex Ethereum and LiveCoin Ethereum

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

BitTrex

Ethereum on BitTrex in USD
 522.94 
(6.06)  1.15%
Market Cap: 893.2 M
 8.74 

LiveCoin

Ethereum on LiveCoin in USD
 514.2 
(0.8)  0.16%
Market Cap: 20.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to generate 1.23 times more return on investment than LiveCoin Ethereum. However, BitTrex Ethereum is 1.23 times more volatile than LiveCoin Ethereum USD. It trades about 0.31 of its potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about 0.37 per unit of risk. If you would invest  31,418  in BitTrex Ethereum USD on November 12, 2017 and sell it today you would earn a total of  20,682  from holding BitTrex Ethereum USD or generate 65.83% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between BitTrex Ethereum and LiveCoin Ethereum
0.89

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

BitTrex Ethereum USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Ethereum USD

  
24 

Risk-Adjusted Performance

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