Correlation Analysis Between BitBay Bitcoin and LakeBTC Bitcoin

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

BitBay Bitcoin USD  vs.  LakeBTC Bitcoin USD

BitBay

Bitcoin on BitBay in USD
 7,257 
7.01  0.1%
Market Cap: 238.7 K
  

LakeBTC

Bitcoin on LakeBTC in USD
 7,974 
13.51  0.17%
Market Cap: 66.1 B
(717.04)
9.88% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitBay Bitcoin USD is expected to generate 0.8 times more return on investment than LakeBTC Bitcoin. However, BitBay Bitcoin USD is 1.25 times less risky than LakeBTC Bitcoin. It trades about 0.23 of its potential returns per unit of risk. LakeBTC Bitcoin USD is currently generating about 0.11 per unit of risk. If you would invest  606,595  in BitBay Bitcoin USD on June 21, 2018 and sell it today you would earn a total of  105,105  from holding BitBay Bitcoin USD or generate 17.33% return on investment over 30 days.

Pair Corralation between BitBay Bitcoin and LakeBTC Bitcoin

0.68
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
BitBay Bitcoin USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitBay Bitcoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

BitBay Bitcoin USD

Pair trading matchups for BitBay Bitcoin
LakeBTC Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LakeBTC Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

LakeBTC Bitcoin USD

Pair trading matchups for LakeBTC Bitcoin

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
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