Correlation Analysis Between LiveCoin Bitcoin and itBit Bitcoin

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

LiveCoin Bitcoin USD  vs.  itBit Bitcoin USD

LiveCoin

Bitcoin on LiveCoin in USD

 6,539 
1.71  0.0261%
Market Cap: 20.9 B
  

itBit

Bitcoin on itBit in USD

 6,391 
24.82  0.39%
Market Cap: 46.4 B
 148.08 
2.26% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Bitcoin USD is expected to generate 0.87 times more return on investment than itBit Bitcoin. However, LiveCoin Bitcoin USD is 1.15 times less risky than itBit Bitcoin. It trades about 0.0 of its potential returns per unit of risk. itBit Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest  656,739  in LiveCoin Bitcoin USD on September 19, 2018 and sell it today you would lose (2,814)  from holding LiveCoin Bitcoin USD or give up 0.43% of portfolio value over 30 days.

Pair Corralation between LiveCoin Bitcoin and itBit Bitcoin

0.95
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 itBit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit 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 itBit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Bitcoin USD has no effect on the direction of LiveCoin Bitcoin i.e. LiveCoin Bitcoin and itBit 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.
itBit Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days itBit 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
$1096.46

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 Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.


 
Search macroaxis.com