Correlation Analysis Between LiveCoin Ethereum and BTCAlpha Ethereum

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

Comparative Performance

LiveCoin Ethereum USD  
00

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. 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.
BTCAlpha Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha 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.

LiveCoin Ethereum and BTCAlpha Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Ethereum USD  vs.  BTCAlpha Ethereum USD

LiveCoin

Ethereum on LiveCoin in USD

 197.13 
(0.62)  0.31%
Market Cap: 18.1 M
  

BTCAlpha

Ethereum on BTCAlpha in USD

 192.13 
(1.84)  0.95%
Market Cap: 83.5 M
 5.00 
2.54% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Ethereum USD is expected to generate 0.87 times more return on investment than BTCAlpha Ethereum. However, LiveCoin Ethereum USD is 1.15 times less risky than BTCAlpha Ethereum. It trades about -0.16 of its potential returns per unit of risk. BTCAlpha Ethereum USD is currently generating about -0.15 per unit of risk. If you would invest  30,761  in LiveCoin Ethereum USD on July 24, 2019 and sell it today you would lose (11,122)  from holding LiveCoin Ethereum USD or give up 36.16% of portfolio value over 30 days.

Pair Corralation between LiveCoin Ethereum and BTCAlpha Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Ethereum and BTCAlpha Ethereum

LiveCoin Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Ethereum USD and BTCAlpha Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BTCAlpha 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 BTCAlpha Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTCAlpha Ethereum USD has no effect on the direction of LiveCoin Ethereum i.e. LiveCoin Ethereum and BTCAlpha Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
Search macroaxis.com