Pair Correlation Between LiveCoin BlueCoin and BitTrex Ethereum

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.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 LiveCoin BlueCoin USD  vs   BitTrex Ethereum Classic USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.0062 
0.00061  8.96%
Market Cap: 83.0

BitTrex

Ethereum Classic on BitTrex in USD
 38.21 
0.39  1.01%
Market Cap: 8.8 M
 Performance (%) 
      Timeline 

Pair Volatility

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.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and BitTrex Ethereum
0.27

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
0 

Risk-Adjusted Performance

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

LiveCoin BlueCoin USD

Pair trading matchups for LiveCoin BlueCoin

BitTrex Ethereum Cla

  
8 

Risk-Adjusted Performance

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.

BitTrex Ethereum Classic USD

Pair trading matchups for BitTrex Ethereum