Correlation Analysis Between LiveCoin Ethereum and Kraken Ethereum

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

LiveCoin Ethereum USD  vs.  Kraken Ethereum USD


Ethereum on LiveCoin in USD
7.27  1.16%
Market Cap: 345.6 M


Ethereum on Kraken in USD
3.45  0.58%
Market Cap: 9.1 B
5.01% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Ethereum USD is expected to generate 1.01 times more return on investment than Kraken Ethereum. However, LiveCoin Ethereum is 1.01 times more volatile than Kraken Ethereum USD. It trades about 0.02 of its potential returns per unit of risk. Kraken Ethereum USD is currently generating about -0.03 per unit of risk. If you would invest  64,100  in LiveCoin Ethereum USD on April 24, 2018 and sell it today you would lose (100.00)  from holding LiveCoin Ethereum USD or give up 0.16% of portfolio value over 30 days.

Pair Corralation between LiveCoin Ethereum and Kraken Ethereum

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
LiveCoin Ethereum USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Kraken Ethereum USD  

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.