Pair Correlation Between HitBTC Bancor and LiveCoin CapriCoin

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

HitBTC

Bancor Network Token on HitBTC in USD
 5.67 
0.04  0.70%
Market Cap: 581.6 K

LiveCoin

CapriCoin on LiveCoin in USD
 0.76 
0.0081  1.06%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to under-perform the LiveCoin CapriCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Bancor Network Token USD is 4.76 times less risky than LiveCoin CapriCoin. The crypto trades about -0.03 of its potential returns per unit of risk. The LiveCoin CapriCoin USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  114.00  in LiveCoin CapriCoin USD on January 21, 2018 and sell it today you would lose (38.31)  from holding LiveCoin CapriCoin USD or give up 33.61% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and LiveCoin CapriCoin
0.48

Parameters

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

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Bancor Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions.

LiveCoin CapriCoin USD

  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.