Pair Correlation 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.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 LiveCoin Ethereum USD  vs   Kraken Ethereum USD

LiveCoin

Ethereum on LiveCoin in USD
 690 
(26)  3.63%
Market Cap: 73.7 M
(13)

Kraken

Ethereum on Kraken in USD
 703 
70.46  11.14%
Market Cap: 5.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Ethereum is expected to generate 1.02 times less return on investment than Kraken Ethereum. In addition to that, LiveCoin Ethereum is 1.08 times more volatile than Kraken Ethereum USD. It trades about 0.34 of its total potential returns per unit of risk. Kraken Ethereum USD is currently generating about 0.37 per unit of volatility. If you would invest  33,500  in Kraken Ethereum USD on November 14, 2017 and sell it today you would earn a total of  36,800  from holding Kraken Ethereum USD or generate 109.85% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Ethereum and Kraken Ethereum
0.92

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 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 
      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.

Kraken Ethereum USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Ethereum USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.