Pair Correlation Between LiveCoin CapriCoin and HitBTC DigitalCash

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

LiveCoin

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

HitBTC

DigitalCash on HitBTC in USD
 883.52 
89.58  11.28%
Market Cap: 42.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin is expected to generate 1.65 times less return on investment than HitBTC DigitalCash. In addition to that, LiveCoin CapriCoin is 2.96 times more volatile than HitBTC DigitalCash USD. It trades about 0.07 of its total potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about 0.36 per unit of volatility. If you would invest  42,107  in HitBTC DigitalCash USD on November 14, 2017 and sell it today you would earn a total of  45,097  from holding HitBTC DigitalCash USD or generate 107.1% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin CapriCoin and HitBTC DigitalCash
0.6

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 CapriCoin USD and HitBTC DigitalCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigitalCash USD 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 HitBTC DigitalCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigitalCash USD has no effect on the direction of LiveCoin CapriCoin i.e. LiveCoin CapriCoin and HitBTC DigitalCash 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.

HitBTC DigitalCash USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC DigitalCash USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.