This module allows you to analyze existing cross correlation between LiveCoin E-Dinar Coin USD and HitBTC ByteCoin USD. You can compare the effects of market volatilities on LiveCoin E-Dinar and HitBTC ByteCoin 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 HitBTC ByteCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin E-Dinar
and HitBTC ByteCoin
LiveCoin E-Dinar Coin USD vs HitBTC ByteCoin USD
Assuming 30 trading days horizon, LiveCoin E-Dinar Coin USD is expected to generate 0.91 times more return on investment than HitBTC ByteCoin. However, LiveCoin E-Dinar Coin USD is 1.1 times less risky than HitBTC ByteCoin. It trades about 0.07 of its potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about -0.29 per unit of risk. If you would invest 1.93 in LiveCoin E-Dinar Coin USD on February 21, 2018 and sell it today you would earn a total of 0.14 from holding LiveCoin E-Dinar Coin USD or generate 7.39% return on investment over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin E-Dinar Coin USD and HitBTC ByteCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ByteCoin 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 HitBTC ByteCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ByteCoin USD has no effect on the direction of LiveCoin E-Dinar i.e. LiveCoin E-Dinar and HitBTC ByteCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days HitBTC ByteCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.