Correlation Analysis Between Coinsbit Bitcoin and Liquid Bitcoin

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

Comparative Performance

Coinsbit Bitcoin USD  
2525

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinsbit Bitcoin USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, Coinsbit 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.

Coinsbit Bitcoin and Liquid Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Bitcoin USD  vs.  Liquid Bitcoin USD

Coinsbit

Bitcoin on Coinsbit in USD

 7,271 
(631.58)  7.99%
Market Cap: 102.1 B
  

Liquid

Bitcoin on Liquid in USD

 7,294 
(81.79)  1.11%
Market Cap: 34.7 B
(22.13)
0.30% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Bitcoin USD is expected to generate 0.95 times more return on investment than Liquid Bitcoin. However, Coinsbit Bitcoin USD is 1.06 times less risky than Liquid Bitcoin. It trades about 0.37 of its potential returns per unit of risk. Liquid Bitcoin USD is currently generating about 0.33 per unit of risk. If you would invest  392,250  in Coinsbit Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  398,053  from holding Coinsbit Bitcoin USD or generate 101.48% return on investment over 30 days.

Pair Corralation between Coinsbit Bitcoin and Liquid Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.56%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Bitcoin and Liquid Bitcoin

Coinsbit Bitcoin USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Coinsbit 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 Coinsbit 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 Coinsbit 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 Coinsbit Bitcoin i.e. Coinsbit Bitcoin and Liquid Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.


 
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