Pair Correlation Between LiveCoin Bitcoin and QuadrigaCX Bitcoin

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

LiveCoin

Bitcoin on LiveCoin in USD
 11,435 
344.00  3.10%
Market Cap: 43.6 B
 54.00 

QuadrigaCX

Bitcoin on QuadrigaCX in USD
 11,381 
218.69  1.89%
Market Cap: 3.9 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Bitcoin is expected to generate 4.65 times less return on investment than QuadrigaCX Bitcoin. But when comparing it to its historical volatility, LiveCoin Bitcoin USD is 1.14 times less risky than QuadrigaCX Bitcoin. It trades about 0.02 of its potential returns per unit of risk. QuadrigaCX Bitcoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  1,060,000  in QuadrigaCX Bitcoin USD on January 21, 2018 and sell it today you would earn a total of  78,100  from holding QuadrigaCX Bitcoin USD or generate 7.37% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Bitcoin and QuadrigaCX Bitcoin
0.79

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Bitcoin USD and QuadrigaCX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on QuadrigaCX 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 QuadrigaCX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QuadrigaCX Bitcoin USD has no effect on the direction of LiveCoin Bitcoin i.e. LiveCoin Bitcoin and QuadrigaCX Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin Bitcoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

QuadrigaCX Bitcoin USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in QuadrigaCX Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.