Pair Correlation Between LiveCoin E-Dinar and HitBTC DigitalNote

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


E-Dinar Coin on LiveCoin in USD
0.00021  1.00%
Market Cap: 1.8 K


DigitalNote on HitBTC in USD
0.000004  0.0467%
Market Cap: 394.9 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar Coin USD is expected to generate 0.65 times more return on investment than HitBTC DigitalNote. However, LiveCoin E-Dinar Coin USD is 1.54 times less risky than HitBTC DigitalNote. It trades about 0.07 of its potential returns per unit of risk. HitBTC DigitalNote USD is currently generating about -0.31 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.

Correlation Coefficient

Pair Corralation between LiveCoin E-Dinar and HitBTC DigitalNote


Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density 

LiveCoin E-Dinar Coin


Risk-Adjusted Performance

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.

HitBTC DigitalNote USD


Risk-Adjusted Performance

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