Correlation Analysis Between LiveCoin Emercoin and Bitstamp Ethereum

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

LiveCoin Emercoin USD  vs.  Bitstamp Ethereum USD

LiveCoin

Emercoin on LiveCoin in USD
 2.77 
0.05  1.77%
Market Cap: 29.6 K
  

Bitstamp

Ethereum on Bitstamp in USD
 498.34 
17.22  3.34%
Market Cap: 3.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 0.73 times more return on investment than Bitstamp Ethereum. However, LiveCoin Emercoin USD is 1.37 times less risky than Bitstamp Ethereum. It trades about 0.03 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.06 per unit of risk. If you would invest  277.00  in LiveCoin Emercoin USD on May 23, 2018 and sell it today you would earn a total of  5.00  from holding LiveCoin Emercoin USD or generate 1.81% return on investment over 30 days.

Pair Corralation between LiveCoin Emercoin and Bitstamp Ethereum

-0.34
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Emercoin 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 Emercoin 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 Emercoin 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 Emercoin i.e. LiveCoin Emercoin and Bitstamp Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Emercoin USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Emercoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
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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