Correlation Analysis Between LiveCoin Lisk and Bitstamp Ethereum

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

Comparative Performance

LiveCoin Lisk USD  
0

Risk-Adjusted Performance

Over the last 30 days LiveCoin Lisk 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 Lisk and Bitstamp Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Lisk USD  vs.  Bitstamp Ethereum USD

LiveCoin

Lisk on LiveCoin in USD

 1.11 
0.03  2.78%
Market Cap: 480
  

Bitstamp

Ethereum on Bitstamp in USD

 83.38 
0.47  0.57%
Market Cap: 52.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Lisk USD is expected to under-perform the Bitstamp Ethereum. In addition to that, LiveCoin Lisk is 1.13 times more volatile than Bitstamp Ethereum USD. It trades about -0.3 of its total potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.32 per unit of volatility. If you would invest  20,513  in Bitstamp Ethereum USD on November 14, 2018 and sell it today you would lose (12,175)  from holding Bitstamp Ethereum USD or give up 59.35% of portfolio value over 30 days.

Pair Corralation between LiveCoin Lisk and Bitstamp Ethereum

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Lisk and Bitstamp Ethereum

LiveCoin Lisk USD diversification synergy

Almost no diversification

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

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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