This module allows you to analyze existing cross correlation between LiveCoin Adzcoin USD and HitBTC ByteCoin USD. You can compare the effects of market volatilities on LiveCoin Adzcoin and HitBTC ByteCoin 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 LiveCoin Adzcoin with a short position of HitBTC ByteCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Adzcoin
and HitBTC ByteCoin
LiveCoin Adzcoin USD vs HitBTC ByteCoin USD
Assuming 30 trading days horizon, LiveCoin Adzcoin USD is expected to generate 2.0 times more return on investment than HitBTC ByteCoin. However, LiveCoin Adzcoin is 2.0 times more volatile than HitBTC ByteCoin USD. It trades about -0.12 of its potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about -0.44 per unit of risk. If you would invest 6.33 in LiveCoin Adzcoin USD on February 15, 2018 and sell it today you would lose (2.79) from holding LiveCoin Adzcoin USD or give up 44.01% of portfolio value 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 LiveCoin Adzcoin USD and HitBTC ByteCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ByteCoin USD and LiveCoin Adzcoin 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 LiveCoin Adzcoin USD are associated (or correlated) with HitBTC ByteCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ByteCoin USD has no effect on the direction of LiveCoin Adzcoin i.e. LiveCoin Adzcoin and HitBTC ByteCoin go up and down completely randomly.
Over the last 30 days LiveCoin Adzcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC ByteCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.