Correlation Analysis Between HitBTC Ethereum and LiveCoin Ethereum

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

Comparative Performance

HitBTC Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days HitBTC 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.

HitBTC Ethereum and LiveCoin Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

HitBTC Ethereum USD  vs.  LiveCoin Ethereum USD

HitBTC

Ethereum on HitBTC in USD

 81.88 
0.00  0.00%
Market Cap: 23.4 K
  

LiveCoin

Ethereum on LiveCoin in USD

 85.48 
0.31  0.36%
Market Cap: 3.2 M
(3.60)
4.40% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  8,188  in HitBTC Ethereum USD on November 16, 2018 and sell it today you would earn a total of  0.00  from holding HitBTC Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between HitBTC Ethereum and LiveCoin Ethereum

0.84
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy4.55%
ValuesDaily Returns

Diversification Opportunities for HitBTC Ethereum and LiveCoin Ethereum

HitBTC Ethereum USD diversification synergy

Very poor diversification

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

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