This module allows you to analyze existing cross correlation between Coinroom Bitcoin USD and Lykke Bitcoin USD. You can compare the effects of market volatilities on Coinroom Bitcoin and Lykke 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 Lykke Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinroom Bitcoin
and Lykke Bitcoin
Coinroom Bitcoin USD vs Lykke Bitcoin USD
Assuming 30 trading days horizon, Coinroom Bitcoin is expected to generate 1.17 times less return on investment than Lykke Bitcoin. In addition to that, Coinroom Bitcoin is 1.02 times more volatile than Lykke Bitcoin USD. It trades about 0.35 of its total potential returns per unit of risk. Lykke Bitcoin USD is currently generating about 0.42 per unit of volatility. If you would invest 740,000 in Lykke Bitcoin USD on November 14, 2017 and sell it today you would earn a total of 950,000 from holding Lykke Bitcoin USD or generate 128.38% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Coinroom Bitcoin USD and Lykke Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Lykke 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 Lykke Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lykke Bitcoin USD has no effect on the direction of Coinroom Bitcoin i.e. Coinroom Bitcoin and Lykke Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Bitcoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Lykke Bitcoin USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.