Correlation Analysis Between Coinbase Ethereum and LiveCoin Ethereum

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

Comparative Performance

Coinbase Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Coinbase 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.

Coinbase Ethereum and LiveCoin Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Coinbase Ethereum USD  vs.  LiveCoin Ethereum USD

Coinbase

Ethereum on Coinbase in USD

 85.74 
2.50  3.00%
Market Cap: 633.2 M
  

LiveCoin

Ethereum on LiveCoin in USD

 86.11 
1.48  1.75%
Market Cap: 3.2 M
(0.37)
0.43% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Ethereum USD is expected to generate 1.2 times more return on investment than LiveCoin Ethereum. However, Coinbase Ethereum is 1.2 times more volatile than LiveCoin Ethereum USD. It trades about -0.3 of its potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about -0.38 per unit of risk. If you would invest  20,321  in Coinbase Ethereum USD on November 15, 2018 and sell it today you would lose (11,717)  from holding Coinbase Ethereum USD or give up 57.66% of portfolio value over 30 days.

Pair Corralation between Coinbase Ethereum and LiveCoin Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinbase Ethereum and LiveCoin Ethereum

Coinbase Ethereum USD diversification synergy

Almost no diversification

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

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