This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and LiveCoin E-Dinar Coin USD. You can compare the effects of market volatilities on HitBTC ByteCoin and LiveCoin E-Dinar 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 E-Dinar. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ByteCoin
and LiveCoin E-Dinar
HitBTC ByteCoin USD vs LiveCoin E-Dinar Coin USD
Assuming 30 trading days horizon, HitBTC ByteCoin is expected to generate 1.67 times less return on investment than LiveCoin E-Dinar. But when comparing it to its historical volatility, HitBTC ByteCoin USD is 1.08 times less risky than LiveCoin E-Dinar. It trades about 0.07 of its potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 1.81 in LiveCoin E-Dinar Coin USD on January 21, 2018 and sell it today you would earn a total of 0.39 from holding LiveCoin E-Dinar Coin USD or generate 21.83% 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 E-Dinar Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin E-Dinar Coin 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 E-Dinar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin E-Dinar Coin has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and LiveCoin E-Dinar 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 4 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.