This module allows you to analyze existing cross correlation between HitBTC Autumncoin USD and LiveCoin NovaCoin USD. You can compare the effects of market volatilities on HitBTC Autumncoin and LiveCoin NovaCoin 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 NovaCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Autumncoin
and LiveCoin NovaCoin
HitBTC Autumncoin USD vs LiveCoin NovaCoin USD
Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 3.42 times less return on investment than LiveCoin NovaCoin. In addition to that, HitBTC Autumncoin is 2.04 times more volatile than LiveCoin NovaCoin USD. It trades about 0.02 of its total potential returns per unit of risk. LiveCoin NovaCoin USD is currently generating about 0.16 per unit of volatility. If you would invest 420 in LiveCoin NovaCoin USD on November 11, 2017 and sell it today you would earn a total of 152 from holding LiveCoin NovaCoin USD or generate 36.19% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Autumncoin USD and LiveCoin NovaCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NovaCoin 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 NovaCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NovaCoin USD has no effect on the direction of HitBTC Autumncoin i.e. HitBTC Autumncoin and LiveCoin NovaCoin go up and down completely randomly.
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.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NovaCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.