Correlation Analysis Between Quoine Ethereum and LiveCoin Ethereum

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

Quoine Ethereum USD  vs.  LiveCoin Ethereum USD

Quoine

Ethereum on Quoine in USD
 542.30 
0.10  0.0184%
Market Cap: 78.3 M
  

LiveCoin

Ethereum on LiveCoin in USD
 551.26 
0.37  0.07%
Market Cap: 167.2 M
(8.96)
1.65% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Ethereum USD is expected to generate 1.18 times more return on investment than LiveCoin Ethereum. However, Quoine Ethereum is 1.18 times more volatile than LiveCoin Ethereum USD. It trades about -0.04 of its potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about -0.07 per unit of risk. If you would invest  58,851  in Quoine Ethereum USD on May 22, 2018 and sell it today you would lose (4,611)  from holding Quoine Ethereum USD or give up 7.84% of portfolio value over 30 days.

Pair Corralation between Quoine Ethereum and LiveCoin Ethereum

0.97
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.77%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Quoine 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.

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