This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and LiveCoin E-Dinar Coin USD. You can compare the effects of market volatilities on Coinbase Bitcoin and LiveCoin E-Dinar 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 Coinbase Bitcoin with a short position of LiveCoin E-Dinar. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinbase Bitcoin
and LiveCoin E-Dinar
Coinbase Bitcoin USD vs LiveCoin E-Dinar Coin USD
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the LiveCoin E-Dinar. In addition to that, Coinbase Bitcoin is 1.02 times more volatile than LiveCoin E-Dinar Coin USD. It trades about -0.13 of its total potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about -0.01 per unit of volatility. If you would invest 2.21 in LiveCoin E-Dinar Coin USD on February 19, 2018 and sell it today you would lose (0.13) from holding LiveCoin E-Dinar Coin USD or give up 5.99% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and LiveCoin E-Dinar Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin E-Dinar Coin and Coinbase Bitcoin 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 Coinbase Bitcoin USD are associated (or correlated) with LiveCoin E-Dinar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin E-Dinar Coin has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and LiveCoin E-Dinar go up and down completely randomly.
Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days LiveCoin E-Dinar Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.