Pair Correlation 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.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 LiveCoin CapriCoin USD  vs   BitTrex Ethereum Classic USD

LiveCoin

CapriCoin on LiveCoin in USD
 0.39 
(0.24)  37.9%
Market Cap: 2.0

BitTrex

Ethereum Classic on BitTrex in USD
 30.71 
2.51  8.9%
Market Cap: 233.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin is expected to generate 1.25 times less return on investment than BitTrex Ethereum. In addition to that, LiveCoin CapriCoin is 2.39 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.07 of its total potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.22 per unit of volatility. If you would invest  1,716  in BitTrex Ethereum Classic USD on November 14, 2017 and sell it today you would earn a total of  1,104  from holding BitTrex Ethereum Classic USD or generate 64.34% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin CapriCoin and BitTrex Ethereum
0.58

Parameters

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

Diversification

Very weak 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

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

BitTrex Ethereum Cla

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.