Correlation Analysis Between BTCAlpha Bitcoin and Liquid Bitcoin

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

Comparative Performance

BTCAlpha Bitcoin USD  
2020

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BTCAlpha Bitcoin USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, BTCAlpha Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
Liquid Bitcoin USD  
2222

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Liquid Bitcoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Liquid Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

BTCAlpha Bitcoin and Liquid Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

BTCAlpha Bitcoin USD  vs.  Liquid Bitcoin USD

BTCAlpha

Bitcoin on BTCAlpha in USD

 7,225 
(153.62)  2.08%
Market Cap: 7 B
  

Liquid

Bitcoin on Liquid in USD

 7,294 
(81.79)  1.11%
Market Cap: 34.7 B
(68.88)
0.95% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BTCAlpha Bitcoin is expected to generate 1.03 times less return on investment than Liquid Bitcoin. In addition to that, BTCAlpha Bitcoin is 1.05 times more volatile than Liquid Bitcoin USD. It trades about 0.3 of its total potential returns per unit of risk. Liquid Bitcoin USD is currently generating about 0.33 per unit of volatility. If you would invest  389,840  in Liquid Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  339,518  from holding Liquid Bitcoin USD or generate 87.09% return on investment over 30 days.

Pair Corralation between BTCAlpha Bitcoin and Liquid Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for BTCAlpha Bitcoin and Liquid Bitcoin

BTCAlpha Bitcoin USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding BTCAlpha Bitcoin USD and Liquid Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Liquid Bitcoin USD and BTCAlpha 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 BTCAlpha Bitcoin USD are associated (or correlated) with Liquid Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Liquid Bitcoin USD has no effect on the direction of BTCAlpha Bitcoin i.e. BTCAlpha Bitcoin and Liquid Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
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