Correlation Analysis Between Coinroom Bitcoin and LiveCoin Bitcoin

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

Coinroom Bitcoin USD  vs.  LiveCoin Bitcoin USD

Coinroom

Bitcoin on Coinroom in USD

 6,457 
24.07  0.37%
Market Cap: 1.3 B
  

LiveCoin

Bitcoin on LiveCoin in USD

 6,556 
10.04  0.15%
Market Cap: 20.9 B
(98.99)
1.53% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin USD is expected to generate 1.31 times more return on investment than LiveCoin Bitcoin. However, Coinroom Bitcoin is 1.31 times more volatile than LiveCoin Bitcoin USD. It trades about 0.01 of its potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about 0.01 per unit of risk. If you would invest  645,741  in Coinroom Bitcoin USD on September 23, 2018 and sell it today you would lose (6.00)  from holding Coinroom Bitcoin USD or give up 0.0% of portfolio value over 30 days.

Pair Corralation between Coinroom Bitcoin and LiveCoin Bitcoin

0.27
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinroom Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Coinroom 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.

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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.


 
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