Pair Correlation Between HitBTC Autumncoin and LiveCoin LEOcoin

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

HitBTC

Autumncoin on HitBTC in USD
 0.0188 
0.0002  1.08%
Market Cap: 8.9 K

LiveCoin

LEOcoin on LiveCoin in USD
 0.25 
0.0071  2.88%
Market Cap: 799
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin USD is expected to generate 2.45 times more return on investment than LiveCoin LEOcoin. However, HitBTC Autumncoin is 2.45 times more volatile than LiveCoin LEOcoin USD. It trades about 0.02 of its potential returns per unit of risk. LiveCoin LEOcoin USD is currently generating about -0.07 per unit of risk. If you would invest  2.4  in HitBTC Autumncoin USD on November 11, 2017 and sell it today you would lose (0.54)  from holding HitBTC Autumncoin USD or give up 22.5% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and LiveCoin LEOcoin
0.41

Parameters

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

Diversification

Very weak diversification

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

  
0 

Risk-Adjusted Performance

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