Pair Correlation Between HitBTC Autumncoin and LiveCoin NEM

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

HitBTC

Autumncoin on HitBTC in USD
 0.021 
(0.0002)  0.94%
Market Cap: 10.8 K

LiveCoin

NEM on LiveCoin in USD
 0.59 
(0.0525)  8.21%
Market Cap: 682
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 2.4 times less return on investment than LiveCoin NEM. In addition to that, HitBTC Autumncoin is 1.35 times more volatile than LiveCoin NEM USD. It trades about 0.09 of its total potential returns per unit of risk. LiveCoin NEM USD is currently generating about 0.27 per unit of volatility. If you would invest  21  in LiveCoin NEM USD on November 17, 2017 and sell it today you would earn a total of  42.98  from holding LiveCoin NEM USD or generate 204.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and LiveCoin NEM
0.3

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 NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NEM 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 NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NEM USD has no effect on the direction of HitBTC Autumncoin i.e. HitBTC Autumncoin and LiveCoin NEM go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

LiveCoin NEM USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.