Pair Correlation Between Gatecoin Litecoin and BitTrex Ethereum

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

Gatecoin

Litecoin on Gatecoin in USD
 250 
150  150%
Market Cap: 1.5 M

BitTrex

Ethereum Classic on BitTrex in USD
 28.18 
(1.62)  5.44%
Market Cap: 88.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Litecoin USD is expected to under-perform the BitTrex Ethereum. In addition to that, Gatecoin Litecoin is 1.74 times more volatile than BitTrex Ethereum Classic USD. It trades about -0.12 of its total potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.05 per unit of volatility. If you would invest  3,761  in BitTrex Ethereum Classic USD on December 18, 2017 and sell it today you would lose (1,161)  from holding BitTrex Ethereum Classic USD or give up 30.87% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Litecoin and BitTrex Ethereum
0.19

Parameters

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

Diversification

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gatecoin Litecoin USD and BitTrex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum Cla and Gatecoin Litecoin 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 Gatecoin Litecoin USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum Cla has no effect on the direction of Gatecoin Litecoin i.e. Gatecoin Litecoin and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Gatecoin Litecoin USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Gatecoin Litecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Gatecoin Litecoin USD

Pair trading matchups for Gatecoin Litecoin

BitTrex Ethereum Cla

  
0 

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.

BitTrex Ethereum Classic USD

Pair trading matchups for BitTrex Ethereum