Correlation Analysis 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
 7,073 
26.57  0.38%
Market Cap: 56.4 B
  

Bitfinex

Bitcoin on Bitfinex in USD
 6,561 
153.80  2.29%
Market Cap: 745.1 B
 511.55 
7.23% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Bitcoin USD is expected to generate 0.86 times more return on investment than Bitfinex Bitcoin. However, LiveCoin Bitcoin USD is 1.16 times less risky than Bitfinex Bitcoin. It trades about -0.23 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.2 per unit of risk. If you would invest  870,484  in LiveCoin Bitcoin USD on May 20, 2018 and sell it today you would lose (165,382)  from holding LiveCoin Bitcoin USD or give up 19.0% of portfolio value over 30 days.

Pair Corralation between LiveCoin Bitcoin and Bitfinex Bitcoin

0.98
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.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1168.06

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Fund Screener module to find activelly-traded funds from around the world traded on over 30 global exchanges.