Correlation Analysis Between LiveCoin CapriCoin and BitTrex Ethereum

This module allows you to analyze existing cross correlation between LiveCoin CapriCoin USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on LiveCoin CapriCoin 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 CapriCoin with a short position of BitTrex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin CapriCoin and BitTrex Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs

LiveCoin CapriCoin USD  vs.  BitTrex Ethereum Classic USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.90 
0.0458  4.84%
Market Cap: 348
  

BitTrex

Ethereum Classic on BitTrex in USD

 9.56 
0.09  0.95%
Market Cap: 11.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to generate 1.94 times more return on investment than BitTrex Ethereum. However, LiveCoin CapriCoin is 1.94 times more volatile than BitTrex Ethereum Classic USD. It trades about -0.02 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.16 per unit of risk. If you would invest  101.00  in LiveCoin CapriCoin USD on September 20, 2018 and sell it today you would lose (8.35)  from holding LiveCoin CapriCoin USD or give up 8.27% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and BitTrex Ethereum

0.74
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy74.19%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin CapriCoin 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 CapriCoin 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 CapriCoin 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 CapriCoin i.e. LiveCoin CapriCoin and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin CapriCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin CapriCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
BitTrex Ethereum Cla  
0 

Risk-Adjusted Performance

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

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