Pair Correlation Between HitBTC BitConnect and LiveCoin LEOcoin

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

HitBTC

BitConnect Coin on HitBTC in USD
 367.8 
28.1  8.27%
Market Cap: 9.9 M

LiveCoin

LEOcoin on LiveCoin in USD
 0.24 
(0.0016)  0.65%
Market Cap: 799
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC BitConnect Coin USD is expected to generate 3.011247166200379E13 times more return on investment than LiveCoin LEOcoin. However, HitBTC BitConnect is 3.011247166200379E13 times more volatile than LiveCoin LEOcoin USD. It trades about 0.18 of its potential returns per unit of risk. LiveCoin LEOcoin USD is currently generating about -0.1 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  34,640  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 LEOcoin
-0.29

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC BitConnect Coin 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 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 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 BitConnect i.e. HitBTC BitConnect and LiveCoin LEOcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC BitConnect Coin

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC BitConnect Coin USD are ranked lower than 12 (%) 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.