Correlation Analysis Between LiveCoin LEOcoin and Bitstamp Ethereum

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

Comparative Performance

LiveCoin LEOcoin USD  
0

Risk-Adjusted Performance

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

LiveCoin LEOcoin and Bitstamp Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin LEOcoin USD  vs.  Bitstamp Ethereum USD

LiveCoin

LEOcoin on LiveCoin in USD

 0.07 
0.01045  17.89%
Market Cap: 36.0
  

Bitstamp

Ethereum on Bitstamp in USD

 83.76 
(1.35)  1.59%
Market Cap: 36 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to generate 1.3 times more return on investment than Bitstamp Ethereum. However, LiveCoin LEOcoin is 1.3 times more volatile than Bitstamp Ethereum USD. It trades about -0.1 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.31 per unit of risk. If you would invest  10.03  in LiveCoin LEOcoin USD on November 16, 2018 and sell it today you would lose (3.69)  from holding LiveCoin LEOcoin USD or give up 36.79% of portfolio value over 30 days.

Pair Corralation between LiveCoin LEOcoin and Bitstamp Ethereum

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for LiveCoin LEOcoin and Bitstamp Ethereum

LiveCoin LEOcoin USD diversification synergy

Almost no diversification

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

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