Correlation Analysis Between Coinsbit Ethereum and LiveCoin Ethereum

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

Coinsbit Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
LiveCoin Ethereum USD  
00

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. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Coinsbit Ethereum and LiveCoin Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Ethereum USD  vs.  LiveCoin Ethereum USD

Coinsbit

Ethereum on Coinsbit in USD

 200.60 
2.82  1.43%
Market Cap: 2.5 B
  

LiveCoin

Ethereum on LiveCoin in USD

 192.42 
(1.76)  0.91%
Market Cap: 18.1 M
 8.18 
4.08% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Ethereum USD is expected to generate 1.48 times more return on investment than LiveCoin Ethereum. However, Coinsbit Ethereum is 1.48 times more volatile than LiveCoin Ethereum USD. It trades about -0.09 of its potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about -0.17 per unit of risk. If you would invest  31,615  in Coinsbit Ethereum USD on July 24, 2019 and sell it today you would lose (11,555)  from holding Coinsbit Ethereum USD or give up 36.55% of portfolio value over 30 days.

Pair Corralation between Coinsbit Ethereum and LiveCoin Ethereum

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Ethereum and LiveCoin Ethereum

Coinsbit Ethereum USD diversification synergy

Almost no diversification

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