This module allows you to analyze existing cross correlation between Ethfinex Ethereum USD and LiveCoin Ethereum USD. You can compare the effects of market volatilities on Ethfinex 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 Ethfinex Ethereum with a short position of LiveCoin Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Ethfinex Ethereum and LiveCoin Ethereum.
|Horizon||30 Days Login to change|
|Ethfinex Ethereum USD|
Over the last 30 days Ethfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
|LiveCoin Ethereum USD|
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.
Ethfinex Ethereum and LiveCoin Ethereum Volatility Contrast
Predicted Return Density
Ethfinex Ethereum USD vs. LiveCoin Ethereum USD
Assuming 30 trading days horizon, Ethfinex Ethereum USD is expected to under-perform the LiveCoin Ethereum. In addition to that, Ethfinex Ethereum is 1.14 times more volatile than LiveCoin Ethereum USD. It trades about -0.12 of its total potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about -0.14 per unit of volatility. If you would invest 29,601 in LiveCoin Ethereum USD on July 21, 2019 and sell it today you would lose (9,701) from holding LiveCoin Ethereum USD or give up 32.77% of portfolio value over 30 days.
Pair Corralation between Ethfinex Ethereum and LiveCoin Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for Ethfinex Ethereum and LiveCoin Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Ethfinex 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 Ethfinex 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 Ethfinex 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 Ethfinex Ethereum i.e. Ethfinex Ethereum and LiveCoin Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.