Correlation Analysis Between Neraex Bitcoin and Liqnet Bitcoin

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

Comparative Performance

Neraex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Neraex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Liqnet Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Liqnet Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Neraex Bitcoin and Liqnet Bitcoin Volatility Contrast

Neraex Bitcoin USD  vs.  Liqnet Bitcoin USD

Neraex

Bitcoin on Neraex in USD

 10,346 
(166.16)  1.58%
Market Cap: 11.7 B
  

Liqnet

Bitcoin on Liqnet in USD

 10,154 
(174.21)  1.69%
Market Cap: 370.5 B
 192.04 
1.86% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Neraex Bitcoin USD is expected to generate 0.84 times more return on investment than Liqnet Bitcoin. However, Neraex Bitcoin USD is 1.19 times less risky than Liqnet Bitcoin. It trades about -0.71 of its potential returns per unit of risk. Liqnet Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest  1,051,227  in Neraex Bitcoin USD on August 17, 2019 and sell it today you would lose (14,938)  from holding Neraex Bitcoin USD or give up 1.42% of portfolio value over 30 days.

Pair Corralation between Neraex Bitcoin and Liqnet Bitcoin

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

Diversification Opportunities for Neraex Bitcoin and Liqnet Bitcoin

Neraex Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Neraex Bitcoin USD and Liqnet Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Liqnet Bitcoin USD and Neraex 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 Neraex Bitcoin USD are associated (or correlated) with Liqnet Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Liqnet Bitcoin USD has no effect on the direction of Neraex Bitcoin i.e. Neraex Bitcoin and Liqnet Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.


 
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