Pair Correlation Between HitBTC Bancor and LiveCoin LEOcoin

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

HitBTC

Bancor Network Token on HitBTC in USD
 5.49 
0.22  3.85%
Market Cap: 581.6 K

LiveCoin

LEOcoin on LiveCoin in USD
 0.29 
0.0028  0.97%
Market Cap: 1.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to under-perform the LiveCoin LEOcoin. In addition to that, HitBTC Bancor is 1.6 times more volatile than LiveCoin LEOcoin USD. It trades about -0.03 of its total potential returns per unit of risk. LiveCoin LEOcoin USD is currently generating about 0.16 per unit of volatility. If you would invest  25.47  in LiveCoin LEOcoin USD on January 21, 2018 and sell it today you would earn a total of  4.39  from holding LiveCoin LEOcoin USD or generate 17.24% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and LiveCoin LEOcoin
0.63

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US and LiveCoin LEOcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin LEOcoin 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 LEOcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin LEOcoin USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and LiveCoin LEOcoin 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 LEOcoin USD

  
10 

Risk-Adjusted Performance

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