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

Quoine

Ethereum on Quoine in USD
 725 
16.89  2.39%
Market Cap: 2.4 B
 9 

LiveCoin

Ethereum on LiveCoin in USD
 716 
21.64  3.12%
Market Cap: 73.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Ethereum is expected to generate 1.03 times less return on investment than LiveCoin Ethereum. But when comparing it to its historical volatility, Quoine Ethereum USD is 1.18 times less risky than LiveCoin Ethereum. It trades about 0.42 of its potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest  32,124  in LiveCoin Ethereum USD on November 16, 2017 and sell it today you would earn a total of  37,312  from holding LiveCoin Ethereum USD or generate 116.15% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Quoine Ethereum and LiveCoin Ethereum
0.95

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 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

  
27 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Ethereum USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Ethereum USD

  
24 

Risk-Adjusted Performance

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