Pair Correlation Between LiveCoin Bitcoin and BitTrex Bitcoin

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

LiveCoin

Bitcoin on LiveCoin in USD
 18,901 
1,101  6.19%
Market Cap: 42.6 B
 120.96 

BitTrex

Bitcoin on BitTrex in USD
 18,780 
(20)  0.11%
Market Cap: 1598.7 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Bitcoin USD is expected to generate 1.24 times more return on investment than BitTrex Bitcoin. However, LiveCoin Bitcoin is 1.24 times more volatile than BitTrex Bitcoin USD. It trades about 0.43 of its potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about 0.49 per unit of risk. If you would invest  764,900  in LiveCoin Bitcoin USD on November 18, 2017 and sell it today you would earn a total of  1,125,196  from holding LiveCoin Bitcoin USD or generate 147.1% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Bitcoin and BitTrex Bitcoin
0.96

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin Bitcoin USD

  
28 

Risk-Adjusted Performance

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

BitTrex Bitcoin USD

  
32 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 32 (%) of all global equities and portfolios over the last 30 days.