Pair Correlation Between HitBTC Bancor and LiveCoin BlueCoin

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

HitBTC

Bancor Network Token on HitBTC in USD
 3.87 
0.02  0.52%
Market Cap: 1.9 M

LiveCoin

BlueCoin on LiveCoin in USD
 0.01566 
0.00116  8%
Market Cap: 67.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 3.91 times less return on investment than LiveCoin BlueCoin. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 5.07 times less risky than LiveCoin BlueCoin. It trades about 0.38 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 17, 2017 and sell it today you would earn a total of  1.14  from holding LiveCoin BlueCoin USD or generate 364.74% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and LiveCoin BlueCoin
0.83

Parameters

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

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US 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 Bancor 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 Bancor Network Token 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 Bancor i.e. HitBTC Bancor and LiveCoin BlueCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.

LiveCoin BlueCoin USD

  
19 

Risk-Adjusted Performance

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.