Pair Correlation Between LiveCoin BlueCoin and HitBTC BitConnect

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01429 
0.0032  28.85%
Market Cap: 67.0

HitBTC

BitConnect Coin on HitBTC in USD
 374.8 
26.1  7.48%
Market Cap: 9.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 3.14648135260661E12 times less return on investment than HitBTC BitConnect. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 5.1171713214672E12 times less risky than HitBTC BitConnect. It trades about 0.29 of its potential returns per unit of risk. HitBTC BitConnect Coin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.00  in HitBTC BitConnect Coin USD on November 14, 2017 and sell it today you would earn a total of  34,870  from holding HitBTC BitConnect Coin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and HitBTC BitConnect
0.74

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

LiveCoin BlueCoin USD

Pair trading matchups for LiveCoin BlueCoin

HitBTC BitConnect Coin

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC BitConnect Coin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.