Pair Correlation Between LiveCoin BlueCoin and HitBTC MaidSafe

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01402 
0.00001  0.0714%
Market Cap: 67.0

HitBTC

MaidSafe Coin on HitBTC in USD
 0.53 
0.0817  18.39%
Market Cap: 24.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 4.7 times more return on investment than HitBTC MaidSafe. However, LiveCoin BlueCoin is 4.7 times more volatile than HitBTC MaidSafe Coin USD. It trades about 0.23 of its potential returns per unit of risk. HitBTC MaidSafe Coin USD is currently generating about 0.16 per unit of risk. If you would invest  0.56  in LiveCoin BlueCoin USD on November 12, 2017 and sell it today you would earn a total of  0.84  from holding LiveCoin BlueCoin USD or generate 150.36% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and HitBTC MaidSafe
0.15

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

HitBTC MaidSafe Coin

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC MaidSafe Coin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.