Correlation Analysis 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
 97.00 
5.00  4.90%
Market Cap: 446.1 K
  

BitTrex

Ethereum Classic on BitTrex in USD
 15.54 
0.48  3.19%
Market Cap: 97.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Litecoin USD is expected to under-perform the BitTrex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Gatecoin Litecoin USD is 1.14 times less risky than BitTrex Ethereum. The crypto trades about -0.19 of its potential returns per unit of risk. The BitTrex Ethereum Classic USD is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest  1,762  in BitTrex Ethereum Classic USD on May 20, 2018 and sell it today you would lose (256.00)  from holding BitTrex Ethereum Classic USD or give up 14.53% of portfolio value over 30 days.

Pair Corralation between Gatecoin Litecoin and BitTrex Ethereum

0.42
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak 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.
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.

My Equities

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1152.26

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See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.