Correlation Analysis Between Bitstamp Ethereum and LiveCoin BlueCoin

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

Bitstamp Ethereum USD  vs.  LiveCoin BlueCoin USD


Ethereum on Bitstamp in USD
7.12  1.31%
Market Cap: 11.2 B


BlueCoin on LiveCoin in USD
0.00052  12.87%
Market Cap: 2.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to under-perform the LiveCoin BlueCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Ethereum USD is 3.66 times less risky than LiveCoin BlueCoin. The crypto trades about -0.04 of its potential returns per unit of risk. The LiveCoin BlueCoin USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  0.50  in LiveCoin BlueCoin USD on May 22, 2018 and sell it today you would lose (0.10)  from holding LiveCoin BlueCoin USD or give up 19.84% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and LiveCoin BlueCoin

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 
Bitstamp Ethereum USD  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

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