This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and LiveCoin CapriCoin USD. You can compare the effects of market volatilities on HitBTC ByteCoin 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 ByteCoin with a short position of LiveCoin CapriCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ByteCoin
and LiveCoin CapriCoin
HitBTC ByteCoin USD vs LiveCoin CapriCoin USD
Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to generate 0.29 times more return on investment than LiveCoin CapriCoin. However, HitBTC ByteCoin USD is 3.48 times less risky than LiveCoin CapriCoin. It trades about 0.41 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 0.12 in HitBTC ByteCoin USD on November 14, 2017 and sell it today you would earn a total of 0.13 from holding HitBTC ByteCoin USD or generate 107.48% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin 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 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 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 ByteCoin i.e. HitBTC ByteCoin and LiveCoin CapriCoin 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 27 (%) of all global equities and portfolios over the last 30 days.
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.