This module allows you to analyze existing cross correlation between HitBTC Bancor Network Token USD and LiveCoin PutinCoin USD. You can compare the effects of market volatilities on HitBTC Bancor and LiveCoin PutinCoin 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 PutinCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC Bancor and LiveCoin PutinCoin.
HitBTC Bancor Network Token US vs. LiveCoin PutinCoin USD
Bancor Network Token on HitBTC in USD
Market Cap: 1.4 M
PutinCoin on LiveCoin in USD
Market Cap: 127
Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to generate 0.69 times more return on investment than LiveCoin PutinCoin. However, HitBTC Bancor Network Token USD is 1.45 times less risky than LiveCoin PutinCoin. It trades about 0.16 of its potential returns per unit of risk. LiveCoin PutinCoin USD is currently generating about -0.07 per unit of risk. If you would invest 387.00 in HitBTC Bancor Network Token USD on April 20, 2018 and sell it today you would earn a total of 90.00 from holding HitBTC Bancor Network Token USD or generate 23.26% return on investment over 30 days.
Pair Corralation between HitBTC Bancor and LiveCoin PutinCoin
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US and LiveCoin PutinCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin PutinCoin 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 PutinCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin PutinCoin USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and LiveCoin PutinCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
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