Correlation Analysis Between LiveCoin Dash and Bitfinex Litecoin

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

LiveCoin Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly weak fundamental indicators, LiveCoin Dash layed out solid returns over the last few months and may actually be approaching a breakup point.
Bitfinex Litecoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Litecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

LiveCoin Dash and Bitfinex Litecoin Volatility Contrast

LiveCoin Dash USD  vs.  Bitfinex Litecoin USD

LiveCoin

Dash on LiveCoin in USD

 94.53 
2.65  2.88%
Market Cap: 1.4 M
  

Bitfinex

Litecoin on Bitfinex in USD

 70.88 
(1.00)  1.40%
Market Cap: 372.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Dash USD is expected to generate 0.23 times more return on investment than Bitfinex Litecoin. However, LiveCoin Dash USD is 4.27 times less risky than Bitfinex Litecoin. It trades about 0.71 of its potential returns per unit of risk. Bitfinex Litecoin USD is currently generating about -0.71 per unit of risk. If you would invest  9,188  in LiveCoin Dash USD on August 17, 2019 and sell it today you would earn a total of  37.00  from holding LiveCoin Dash USD or generate 0.4% return on investment over 30 days.

Pair Corralation between LiveCoin Dash and Bitfinex Litecoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Dash and Bitfinex Litecoin

LiveCoin Dash USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Dash USD and Bitfinex Litecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Litecoin USD and LiveCoin Dash 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 Dash USD are associated (or correlated) with Bitfinex Litecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Litecoin USD has no effect on the direction of LiveCoin Dash i.e. LiveCoin Dash and Bitfinex Litecoin go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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