Pair Correlation Between LiveCoin BlueCoin and LiveCoin Litecoin

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.00647 
0.00034  4.99%
Market Cap: 83.0

LiveCoin

Litecoin on LiveCoin in USD
 213.09 
4.03  1.93%
Market Cap: 44.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to under-perform the LiveCoin Litecoin. In addition to that, LiveCoin BlueCoin is 1.54 times more volatile than LiveCoin Litecoin USD. It trades about -0.04 of its total potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about 0.09 per unit of volatility. If you would invest  18,761  in LiveCoin Litecoin USD on January 25, 2018 and sell it today you would earn a total of  2,548  from holding LiveCoin Litecoin USD or generate 13.58% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and LiveCoin Litecoin
0.39

Parameters

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

Diversification

Weak diversification

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

LiveCoin Litecoin USD

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Litecoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Litecoin USD

Pair trading matchups for LiveCoin Litecoin