Pair Correlation Between LiveCoin Ethereum and BitTrex Ethereum

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

LiveCoin

Ethereum on LiveCoin in USD
 723.6 
34.26  4.97%
Market Cap: 73.7 M
 2.98 

BitTrex

Ethereum on BitTrex in USD
 720.62 
2.73  0.38%
Market Cap: 20.7 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Ethereum is expected to generate 1.04 times less return on investment than BitTrex Ethereum. In addition to that, LiveCoin Ethereum is 1.18 times more volatile than BitTrex Ethereum USD. It trades about 0.35 of its total potential returns per unit of risk. BitTrex Ethereum USD is currently generating about 0.43 per unit of volatility. If you would invest  32,838  in BitTrex Ethereum USD on November 17, 2017 and sell it today you would earn a total of  39,224  from holding BitTrex Ethereum USD or generate 119.45% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Ethereum and BitTrex Ethereum
0.97

Parameters

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

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Ethereum USD and BitTrex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum USD and LiveCoin 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 LiveCoin Ethereum 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 USD has no effect on the direction of LiveCoin Ethereum i.e. LiveCoin Ethereum and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin Ethereum USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Ethereum USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.

BitTrex Ethereum USD

  
28 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.