This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and LiveCoin Hellenic Coin USD. You can compare the effects of market volatilities on Coinbase Bitcoin and LiveCoin Hellenic 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 Hellenic. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinbase Bitcoin and LiveCoin Hellenic.
Coinbase Bitcoin USD vs. LiveCoin Hellenic Coin USD
Bitcoin on Coinbase in USD
Market Cap: 245.1 B
Hellenic Coin on LiveCoin in USD
Market Cap: 350
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.17 times more return on investment than LiveCoin Hellenic. However, Coinbase Bitcoin USD is 5.94 times less risky than LiveCoin Hellenic. It trades about -0.02 of its potential returns per unit of risk. LiveCoin Hellenic Coin USD is currently generating about -0.06 per unit of risk. If you would invest 880,900 in Coinbase Bitcoin USD on April 20, 2018 and sell it today you would lose (27,323) from holding Coinbase Bitcoin USD or give up 3.1% of portfolio value over 30 days.
Pair Corralation between Coinbase Bitcoin and LiveCoin Hellenic
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and LiveCoin Hellenic Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Hellenic 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 Hellenic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Hellenic Coin has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and LiveCoin Hellenic go up and down completely randomly.
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