This module allows you to analyze existing cross correlation between LiveCoin Emercoin USD and HitBTC PeerCoin USD. You can compare the effects of market volatilities on LiveCoin Emercoin and HitBTC PeerCoin 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 HitBTC PeerCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Emercoin
and HitBTC PeerCoin
LiveCoin Emercoin USD vs HitBTC PeerCoin USD
Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 1.42 times more return on investment than HitBTC PeerCoin. However, LiveCoin Emercoin is 1.42 times more volatile than HitBTC PeerCoin USD. It trades about -0.03 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about -0.4 per unit of risk. If you would invest 422.00 in LiveCoin Emercoin USD on February 15, 2018 and sell it today you would lose (62.00) from holding LiveCoin Emercoin USD or give up 14.69% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Emercoin USD and HitBTC PeerCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC PeerCoin 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 HitBTC PeerCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC PeerCoin USD has no effect on the direction of LiveCoin Emercoin i.e. LiveCoin Emercoin and HitBTC PeerCoin go up and down completely randomly.
Over the last 30 days LiveCoin Emercoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC PeerCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.