Pair Correlation Between HitBTC Autumncoin and LiveCoin Karbowanec

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

HitBTC

Autumncoin on HitBTC in USD
 0.0197 
0.0027  15.88%
Market Cap: 10.8 K

LiveCoin

Karbowanec on LiveCoin in USD
 1.27 
0.14  12.39%
Market Cap: 12.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 1.39 times less return on investment than LiveCoin Karbowanec. In addition to that, HitBTC Autumncoin is 1.41 times more volatile than LiveCoin Karbowanec USD. It trades about 0.07 of its total potential returns per unit of risk. LiveCoin Karbowanec USD is currently generating about 0.14 per unit of volatility. If you would invest  77  in LiveCoin Karbowanec USD on November 16, 2017 and sell it today you would earn a total of  36  from holding LiveCoin Karbowanec USD or generate 46.75% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and LiveCoin Karbowanec
0.34

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Karbowanec USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Karbowanec USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.