Correlation Analysis Between Bitstamp Ethereum and LiveCoin NEM

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

Bitstamp Ethereum USD  vs.  LiveCoin NEM USD

Bitstamp

Ethereum on Bitstamp in USD

 88.56 
0.60  0.68%
Market Cap: 52.2 M
  

LiveCoin

NEM on LiveCoin in USD

 0.07 
(0.00095)  1.37%
Market Cap: 9.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to under-perform the LiveCoin NEM. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Ethereum USD is 1.04 times less risky than LiveCoin NEM. The crypto trades about -0.3 of its potential returns per unit of risk. The LiveCoin NEM USD is currently generating about -0.1 of returns per unit of risk over similar time horizon. If you would invest  9.58  in LiveCoin NEM USD on November 13, 2018 and sell it today you would lose (2.73)  from holding LiveCoin NEM USD or give up 28.53% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and LiveCoin NEM

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Bitstamp Ethereum USD diversification synergy

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Ethereum USD  
0

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 NEM USD  
0

Risk-Adjusted Performance

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

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