Correlation Analysis Between Coinbase Bitcoin and LakeBTC Bitcoin

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

Coinbase Bitcoin USD  vs.  LakeBTC Bitcoin USD

Coinbase

Bitcoin on Coinbase in USD

 6,395 
38.16  0.59%
Market Cap: 51.6 B
  

LakeBTC

Bitcoin on LakeBTC in USD

 7,060 
27.29  0.39%
Market Cap: 3 B
(665.14)
10.40% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 1.38 times more return on investment than LakeBTC Bitcoin. However, Coinbase Bitcoin is 1.38 times more volatile than LakeBTC Bitcoin USD. It trades about -0.09 of its potential returns per unit of risk. LakeBTC Bitcoin USD is currently generating about -0.14 per unit of risk. If you would invest  671,299  in Coinbase Bitcoin USD on September 21, 2018 and sell it today you would lose (27,953)  from holding Coinbase Bitcoin USD or give up 4.16% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and LakeBTC Bitcoin

0.83
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy95.65%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
0 

Risk-Adjusted Performance

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

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

LakeBTC Bitcoin USD  
0 

Risk-Adjusted Performance

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

LakeBTC Bitcoin USD

Pair trading matchups for LakeBTC Bitcoin

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Alphabet
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