Pair Correlation Between LiveCoin Bitcoin and Bitfinex Bitcoin

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

LiveCoin

Bitcoin on LiveCoin in USD
 9,927 
154.75  1.53%
Market Cap: 36.3 B
 265.16 

Bitfinex

Bitcoin on Bitfinex in USD
 9,662 
109.80  1.15%
Market Cap: 5296.9 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Bitcoin USD is expected to generate 0.88 times more return on investment than Bitfinex Bitcoin. However, LiveCoin Bitcoin USD is 1.13 times less risky than Bitfinex Bitcoin. It trades about -0.08 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.07 per unit of risk. If you would invest  1,172,918  in LiveCoin Bitcoin USD on January 26, 2018 and sell it today you would lose (180,182)  from holding LiveCoin Bitcoin USD or give up 15.36% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Bitcoin and Bitfinex Bitcoin
0.98

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 LiveCoin Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and LiveCoin 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 LiveCoin Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of LiveCoin Bitcoin i.e. LiveCoin Bitcoin and Bitfinex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

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.

Bitfinex Bitcoin USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.