Correlation Analysis Between HitBTC Bancor and LiveCoin E-Dinar

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

HitBTC Bancor Network Token US  vs.  LiveCoin E-Dinar Coin USD

HitBTC

Bancor Network Token on HitBTC in USD
 4.39 
0.29  6.20%
Market Cap: 1.4 M
  

LiveCoin

E-Dinar Coin on LiveCoin in USD
 0.01317 
0.00081  5.79%
Market Cap: 1.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to generate 1.03 times more return on investment than LiveCoin E-Dinar. However, HitBTC Bancor is 1.03 times more volatile than LiveCoin E-Dinar Coin USD. It trades about 0.05 of its potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about -0.29 per unit of risk. If you would invest  437.00  in HitBTC Bancor Network Token USD on April 22, 2018 and sell it today you would earn a total of  15.00  from holding HitBTC Bancor Network Token USD or generate 3.43% return on investment over 30 days.

Pair Corralation between HitBTC Bancor and LiveCoin E-Dinar

0.52
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 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 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 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 Bancor i.e. HitBTC Bancor and LiveCoin E-Dinar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Bancor Network  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
LiveCoin E-Dinar Coin  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin E-Dinar Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1069.73

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See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.