This module allows you to analyze existing cross correlation between LiveCoin BlueCoin USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on LiveCoin BlueCoin and BitTrex Ethereum 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 BlueCoin with a short position of BitTrex Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin BlueCoin
and BitTrex Ethereum
LiveCoin BlueCoin USD vs BitTrex Ethereum Classic USD
Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to under-perform the BitTrex Ethereum. In addition to that, LiveCoin BlueCoin is 1.38 times more volatile than BitTrex Ethereum Classic USD. It trades about -0.03 of its total potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.14 per unit of volatility. If you would invest 2,940 in BitTrex Ethereum Classic USD on January 25, 2018 and sell it today you would earn a total of 920.00 from holding BitTrex Ethereum Classic USD or generate 31.29% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin BlueCoin USD and BitTrex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum Cla and LiveCoin BlueCoin 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 BlueCoin USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum Cla has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and BitTrex Ethereum go up and down completely randomly.
Over the last 30 days LiveCoin BlueCoin 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 BitTrex Ethereum Classic USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.