Pair Correlation 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
 5.49 
0.22  3.85%
Market Cap: 581.6 K

LiveCoin

E-Dinar Coin on LiveCoin in USD
 0.02205 
0.00089  3.88%
Market Cap: 1.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to under-perform the LiveCoin E-Dinar. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Bancor Network Token USD is 1.67 times less risky than LiveCoin E-Dinar. The crypto trades about -0.03 of its potential returns per unit of risk. The 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.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and LiveCoin E-Dinar
-0.17

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Good 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

  
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 E-Dinar Coin

  
7 

Risk-Adjusted Performance

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.