Pair Correlation Between LiveCoin BlueCoin and HitBTC Verge

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01566 
0.00116  8%
Market Cap: 67.0

HitBTC

Verge on HitBTC in USD
 0.0611 
0.0411  205.5%
Market Cap: 217.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 1.44 times less return on investment than HitBTC Verge. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 1.43 times less risky than HitBTC Verge. It trades about 0.29 of its potential returns per unit of risk. HitBTC Verge USD is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest  0.6  in HitBTC Verge USD on November 17, 2017 and sell it today you would earn a total of  5.63  from holding HitBTC Verge USD or generate 935.94% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and HitBTC Verge
0.72

Parameters

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

Diversification

Poor diversification

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

HitBTC Verge USD

  
19 

Risk-Adjusted Performance

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