Correlation Analysis Between LiveCoin E-Dinar and Bitstamp Ethereum

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

LiveCoin E-Dinar Coin USD  vs.  Bitstamp Ethereum USD

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00905 
(0.00047)  4.94%
Market Cap: 564
  

Bitstamp

Ethereum on Bitstamp in USD

 87.96 
(0.04)  0.0455%
Market Cap: 52.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar Coin USD is expected to generate 1.49 times more return on investment than Bitstamp Ethereum. However, LiveCoin E-Dinar is 1.49 times more volatile than Bitstamp Ethereum USD. It trades about -0.01 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.3 per unit of risk. If you would invest  1.12  in LiveCoin E-Dinar Coin USD on November 12, 2018 and sell it today you would lose (0.22)  from holding LiveCoin E-Dinar Coin USD or give up 19.48% of portfolio value over 30 days.

Pair Corralation between LiveCoin E-Dinar and Bitstamp Ethereum

0.6
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.67%
ValuesDaily Returns

Diversification

LiveCoin E-Dinar Coin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin E-Dinar Coin USD and Bitstamp Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp Ethereum USD and LiveCoin E-Dinar 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 E-Dinar Coin USD are associated (or correlated) with Bitstamp Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Ethereum USD has no effect on the direction of LiveCoin E-Dinar i.e. LiveCoin E-Dinar and Bitstamp Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin E-Dinar Coin  
0

Risk-Adjusted Performance

Over the last 30 days LiveCoin E-Dinar Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitstamp Ethereum USD  
0

Risk-Adjusted Performance

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

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