Correlation Analysis Between BitTrex Bitcoin and LiveCoin Bitcoin

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

Comparative Performance

BitTrex Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin Bitcoin USD  
0

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.

BitTrex Bitcoin and LiveCoin Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

BitTrex Bitcoin USD  vs.  LiveCoin Bitcoin USD

BitTrex

Bitcoin on BitTrex in USD

 3,196 
(30.31)  0.94%
Market Cap: 5.8 B
  

LiveCoin

Bitcoin on LiveCoin in USD

 3,245 
55.40  1.74%
Market Cap: 6.2 B
(48.61)
1.52% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Bitcoin USD is expected to generate 0.86 times more return on investment than LiveCoin Bitcoin. However, BitTrex Bitcoin USD is 1.16 times less risky than LiveCoin Bitcoin. It trades about -0.38 of its potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about -0.33 per unit of risk. If you would invest  643,670  in BitTrex Bitcoin USD on November 16, 2018 and sell it today you would lose (323,695)  from holding BitTrex Bitcoin USD or give up 50.29% of portfolio value over 30 days.

Pair Corralation between BitTrex Bitcoin and LiveCoin Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for BitTrex Bitcoin and LiveCoin Bitcoin

BitTrex Bitcoin USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex 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 BitTrex 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 BitTrex 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 BitTrex Bitcoin i.e. BitTrex Bitcoin and LiveCoin Bitcoin go up and down completely randomly.

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