Pair Correlation Between Gatecoin Bitcoin and LiveCoin Bitcoin

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

Gatecoin

Bitcoin on Gatecoin in USD
 19,551 
1,890  10.7%
Market Cap: 167.8 B
 1,751 

LiveCoin

Bitcoin on LiveCoin in USD
 17,800 
459.72  2.65%
Market Cap: 42.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Bitcoin USD is expected to generate 0.95 times more return on investment than LiveCoin Bitcoin. However, Gatecoin Bitcoin USD is 1.05 times less risky than LiveCoin Bitcoin. It trades about 0.43 of its potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about 0.39 per unit of risk. If you would invest  816,440  in Gatecoin Bitcoin USD on November 16, 2017 and sell it today you would earn a total of  1,138,660  from holding Gatecoin Bitcoin USD or generate 139.47% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Bitcoin and LiveCoin Bitcoin
0.95

Parameters

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

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Gatecoin Bitcoin USD

  
28 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Bitcoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Bitcoin USD

  
25 

Risk-Adjusted Performance

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