Pair Correlation Between HitBTC BitConnect and LiveCoin CapriCoin

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

HitBTC

BitConnect Coin on HitBTC in USD
 374.8 
26.1  7.48%
Market Cap: 9.9 M

LiveCoin

CapriCoin on LiveCoin in USD
 0.39 
(0.24)  37.9%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC BitConnect Coin USD is expected to generate 7.39908579461432E12 times more return on investment than LiveCoin CapriCoin. However, HitBTC BitConnect is 7.39908579461432E12 times more volatile than LiveCoin CapriCoin USD. It trades about 0.18 of its potential returns per unit of risk. LiveCoin CapriCoin USD is currently generating about 0.07 per unit of risk. If you would invest  0.00  in HitBTC BitConnect Coin USD on November 14, 2017 and sell it today you would earn a total of  34,870  from holding HitBTC BitConnect Coin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC BitConnect and LiveCoin CapriCoin
0.06

Parameters

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

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC BitConnect Coin

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC BitConnect Coin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

LiveCoin CapriCoin USD

  
4 

Risk-Adjusted Performance

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