This module allows you to analyze existing cross correlation between LiveCoin Hellenic Coin USD and HitBTC Komodo USD. You can compare the effects of market volatilities on LiveCoin Hellenic and HitBTC Komodo 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 Hellenic with a short position of HitBTC Komodo. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Hellenic
and HitBTC Komodo
LiveCoin Hellenic Coin USD vs HitBTC Komodo USD
Assuming 30 trading days horizon, LiveCoin Hellenic Coin USD is expected to generate 2.83 times more return on investment than HitBTC Komodo. However, LiveCoin Hellenic is 2.83 times more volatile than HitBTC Komodo USD. It trades about -0.02 of its potential returns per unit of risk. HitBTC Komodo USD is currently generating about -0.24 per unit of risk. If you would invest 0.62 in LiveCoin Hellenic Coin USD on February 17, 2018 and sell it today you would lose (0.28) from holding LiveCoin Hellenic Coin USD or give up 45.04% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Hellenic Coin USD and HitBTC Komodo USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Komodo USD and LiveCoin Hellenic 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 Hellenic Coin USD are associated (or correlated) with HitBTC Komodo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Komodo USD has no effect on the direction of LiveCoin Hellenic i.e. LiveCoin Hellenic and HitBTC Komodo go up and down completely randomly.
Over the last 30 days LiveCoin Hellenic Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC Komodo USD has generated negative risk-adjusted returns adding no value to investors with long positions.