Correlation Analysis Between LiveCoin PeerCoin and Bitfinex Ethereum

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

LiveCoin PeerCoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin PeerCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin PeerCoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.
Bitfinex Ethereum  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather fragile fundamental drivers, Bitfinex Ethereum exhibited solid returns over the last few months and may actually be approaching a breakup point.

LiveCoin PeerCoin and Bitfinex Ethereum Volatility Contrast

LiveCoin PeerCoin USD  vs.  Bitfinex Ethereum Classic USD

LiveCoin

PeerCoin on LiveCoin in USD

 0.32 
(0.0083)  2.57%
Market Cap: 5.2 K
  

Bitfinex

Ethereum Classic on Bitfinex in USD

 6.12 
(0.001)  0.0163%
Market Cap: 6.4 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  603.10  in Bitfinex Ethereum Classic USD on August 21, 2019 and sell it today you would earn a total of  9.00  from holding Bitfinex Ethereum Classic USD or generate 1.49% return on investment over 30 days.

Pair Corralation between LiveCoin PeerCoin and Bitfinex Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy33.33%
ValuesDaily Returns

Diversification Opportunities for LiveCoin PeerCoin and Bitfinex Ethereum

LiveCoin PeerCoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin PeerCoin USD and Bitfinex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Ethereum and LiveCoin PeerCoin 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 PeerCoin USD are associated (or correlated) with Bitfinex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Ethereum has no effect on the direction of LiveCoin PeerCoin i.e. LiveCoin PeerCoin and Bitfinex Ethereum go up and down completely randomly.
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