This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and LiveCoin BlueCoin USD. You can compare the effects of market volatilities on HitBTC ByteCoin and LiveCoin BlueCoin 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 ByteCoin with a short position of LiveCoin BlueCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ByteCoin
and LiveCoin BlueCoin
HitBTC ByteCoin USD vs LiveCoin BlueCoin USD
Assuming 30 trading days horizon, HitBTC ByteCoin is expected to generate 3.43 times less return on investment than LiveCoin BlueCoin. But when comparing it to its historical volatility, HitBTC ByteCoin USD is 4.76 times less risky than LiveCoin BlueCoin. It trades about 0.41 of its potential returns per unit of risk. LiveCoin BlueCoin USD is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest 0.31 in LiveCoin BlueCoin USD on November 13, 2017 and sell it today you would earn a total of 1.09 from holding LiveCoin BlueCoin USD or generate 352.26% return on investment over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and LiveCoin BlueCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin BlueCoin USD and HitBTC ByteCoin 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 ByteCoin USD are associated (or correlated) with LiveCoin BlueCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin BlueCoin USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and LiveCoin BlueCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.