Pair Correlation Between HitBTC Autumncoin and LiveCoin E-Dinar

This module allows you to analyze existing cross correlation between HitBTC Autumncoin USD and LiveCoin E-Dinar Coin USD. You can compare the effects of market volatilities on HitBTC Autumncoin 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 HitBTC Autumncoin with a short position of LiveCoin E-Dinar. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC Autumncoin and LiveCoin E-Dinar.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 HitBTC Autumncoin USD  vs   LiveCoin E-Dinar Coin USD

HitBTC

Autumncoin on HitBTC in USD
 0.0162 
(0.0008)  4.71%
Market Cap: 10.8 K

LiveCoin

E-Dinar Coin on LiveCoin in USD
 0.00719 
0.00097  15.59%
Market Cap: 69.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 4.9 times less return on investment than LiveCoin E-Dinar. In addition to that, HitBTC Autumncoin is 1.61 times more volatile than LiveCoin E-Dinar Coin USD. It trades about 0.03 of its total potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about 0.21 per unit of volatility. If you would invest  0.39  in LiveCoin E-Dinar Coin USD on November 15, 2017 and sell it today you would earn a total of  0.32  from holding LiveCoin E-Dinar Coin USD or generate 82.49% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and LiveCoin E-Dinar
-0.37

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Autumncoin 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 HitBTC Autumncoin 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 HitBTC Autumncoin 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 HitBTC Autumncoin i.e. HitBTC Autumncoin and LiveCoin E-Dinar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

LiveCoin E-Dinar Coin

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.