Correlation Analysis Between ExtStock Bitcoin and LiveCoin Bitcoin

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

Comparative Performance

ExtStock Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days ExtStock Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, ExtStock Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
LiveCoin Bitcoin USD  
00

Risk-Adjusted Performance

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

ExtStock Bitcoin and LiveCoin Bitcoin Volatility Contrast

ExtStock Bitcoin USD  vs.  LiveCoin Bitcoin USD

ExtStock

Bitcoin on ExtStock in USD

 10,200 
(19.28)  0.19%
Market Cap: 40.2 B
  

LiveCoin

Bitcoin on LiveCoin in USD

 10,750 
149.98  1.41%
Market Cap: 113.7 B
(550.20)
5.39% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,060,002  in LiveCoin Bitcoin USD on August 17, 2019 and sell it today you would earn a total of  12,217  from holding LiveCoin Bitcoin USD or generate 1.15% return on investment over 30 days.

Pair Corralation between ExtStock Bitcoin and LiveCoin Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for ExtStock Bitcoin and LiveCoin Bitcoin

ExtStock Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding ExtStock Bitcoin USD and LiveCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Bitcoin USD and ExtStock Bitcoin 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 ExtStock Bitcoin USD are associated (or correlated) with LiveCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Bitcoin USD has no effect on the direction of ExtStock Bitcoin i.e. ExtStock Bitcoin and LiveCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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