Pair Correlation Between HitBTC Bancor and LiveCoin FastCoin

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

HitBTC

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

LiveCoin

FastCoin on LiveCoin in USD
 0.01199 
(0.00001)  0.0833%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 1.25 times less return on investment than LiveCoin FastCoin. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 2.93 times less risky than LiveCoin FastCoin. It trades about 0.38 of its potential returns per unit of risk. LiveCoin FastCoin USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  0.75  in LiveCoin FastCoin USD on November 17, 2017 and sell it today you would earn a total of  0.45  from holding LiveCoin FastCoin USD or generate 59.65% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and LiveCoin FastCoin
0.42

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 FastCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin FastCoin 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 FastCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin FastCoin USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and LiveCoin FastCoin 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 FastCoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin FastCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.