This module allows you to analyze existing cross correlation between HitBTC DigiByte USD and LiveCoin E-Dinar Coin USD. You can compare the effects of market volatilities on HitBTC DigiByte 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 DigiByte with a short position of LiveCoin E-Dinar. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC DigiByte
and LiveCoin E-Dinar
HitBTC DigiByte USD vs LiveCoin E-Dinar Coin USD
Assuming 30 trading days horizon, HitBTC DigiByte USD is expected to under-perform the LiveCoin E-Dinar. In addition to that, HitBTC DigiByte is 1.16 times more volatile than LiveCoin E-Dinar Coin USD. It trades about -0.15 of its total potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about 0.07 per unit of volatility. If you would invest 1.93 in LiveCoin E-Dinar Coin USD on February 21, 2018 and sell it today you would earn a total of 0.14 from holding LiveCoin E-Dinar Coin USD or generate 6.98% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC DigiByte USD 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 DigiByte 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 DigiByte 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 DigiByte i.e. HitBTC DigiByte and LiveCoin E-Dinar go up and down completely randomly.
Over the last 30 days HitBTC DigiByte USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.