Correlation Analysis Between Liquid Bitcoin and Liquid Ethereum

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

Comparative Performance

Liquid Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Liquid Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Liquid Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, Liquid Ethereum sustained solid returns over the last few months and may actually be approaching a breakup point.

Liquid Bitcoin and Liquid Ethereum Volatility Contrast

Liquid Bitcoin USD  vs.  Liquid Ethereum USD

Liquid

Bitcoin on Liquid in USD

 10,295 
413.67  4.19%
Market Cap: 167.2 B
  

Liquid

Ethereum on Liquid in USD

 222.95 
19.01  9.32%
Market Cap: 60 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin is expected to generate 188.69 times less return on investment than Liquid Ethereum. But when comparing it to its historical volatility, Liquid Bitcoin USD is 188.86 times less risky than Liquid Ethereum. It trades about 0.71 of its potential returns per unit of risk. Liquid Ethereum USD is currently generating about 0.71 of returns per unit of risk over similar time horizon. If you would invest  20,394  in Liquid Ethereum USD on August 20, 2019 and sell it today you would earn a total of  1,901  from holding Liquid Ethereum USD or generate 9.32% return on investment over 30 days.

Pair Corralation between Liquid Bitcoin and Liquid Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and Liquid Ethereum

Liquid Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Bitcoin USD and Liquid Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Liquid Ethereum USD and Liquid 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 Liquid Bitcoin USD are associated (or correlated) with Liquid Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Liquid Ethereum USD has no effect on the direction of Liquid Bitcoin i.e. Liquid Bitcoin and Liquid Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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