Correlation Analysis Between HitBTC Bancor and LiveCoin TrustCoin

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

HitBTC Bancor Network Token US  vs.  LiveCoin TrustCoin USD

HitBTC

Bancor Network Token on HitBTC in USD
 3.77 
0.03  0.80%
Market Cap: 1.3 M
  

LiveCoin

TrustCoin on LiveCoin in USD
 0.09 
0.01104  10.81%
Market Cap: 336
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to generate 0.44 times more return on investment than LiveCoin TrustCoin. However, HitBTC Bancor Network Token USD is 2.29 times less risky than LiveCoin TrustCoin. It trades about -0.14 of its potential returns per unit of risk. LiveCoin TrustCoin USD is currently generating about -0.26 per unit of risk. If you would invest  478.00  in HitBTC Bancor Network Token USD on April 27, 2018 and sell it today you would lose (101.00)  from holding HitBTC Bancor Network Token USD or give up 21.13% of portfolio value over 30 days.

Pair Corralation between HitBTC Bancor and LiveCoin TrustCoin

0.82
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Risk-Adjusted Performance

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

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1079.24

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