Correlation Analysis Between Bitfinex Verge and LiveCoin DigiByte

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

Bitfinex Verge USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Verge USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Verge is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
LiveCoin DigiByte USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin DigiByte USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin DigiByte is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.

Bitfinex Verge and LiveCoin DigiByte Volatility Contrast

Bitfinex Verge USD  vs.  LiveCoin DigiByte USD

Bitfinex

Verge on Bitfinex in USD

 0.0044 
0.00  0.00%
Market Cap: 26.0
  

LiveCoin

DigiByte on LiveCoin in USD

 0.0105 
0.00001  0.1%
Market Cap: 45.0
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1.05  in LiveCoin DigiByte USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding LiveCoin DigiByte USD or generate 0.1% return on investment over 30 days.

Pair Corralation between Bitfinex Verge and LiveCoin DigiByte

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Verge and LiveCoin DigiByte

Bitfinex Verge USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Verge USD and LiveCoin DigiByte USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin DigiByte USD and Bitfinex Verge 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 Bitfinex Verge USD are associated (or correlated) with LiveCoin DigiByte. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin DigiByte USD has no effect on the direction of Bitfinex Verge i.e. Bitfinex Verge and LiveCoin DigiByte go up and down completely randomly.
See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.


 
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