This module allows you to analyze existing cross correlation between LiveCoin Lisk USD and HitBTC ByteCoin USD. You can compare the effects of market volatilities on LiveCoin Lisk and HitBTC ByteCoin 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 HitBTC ByteCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Lisk
and HitBTC ByteCoin
LiveCoin Lisk USD vs HitBTC ByteCoin USD
Assuming 30 trading days horizon, LiveCoin Lisk USD is expected to under-perform the HitBTC ByteCoin. In addition to that, LiveCoin Lisk is 1.09 times more volatile than HitBTC ByteCoin USD. It trades about -0.38 of its total potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about -0.4 per unit of volatility. If you would invest 0.56 in HitBTC ByteCoin USD on February 17, 2018 and sell it today you would lose (0.30) from holding HitBTC ByteCoin USD or give up 53.8% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Lisk USD and HitBTC ByteCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ByteCoin 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 HitBTC ByteCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ByteCoin USD has no effect on the direction of LiveCoin Lisk i.e. LiveCoin Lisk and HitBTC ByteCoin go up and down completely randomly.
Over the last 30 days LiveCoin Lisk USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC ByteCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.