Correlation Analysis Between Lykke Bitcoin and Bitfinex Bitcoin

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

Lykke Bitcoin USD  vs.  Bitfinex Bitcoin USD

Lykke

Bitcoin on Lykke in USD
 6,361 
191.93  2.93%
Market Cap: 298.7 K
  

Bitfinex

Bitcoin on Bitfinex in USD
 6,370 
9.20  0.14%
Market Cap: 692.9 B
(8.55)
0.13% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Lykke Bitcoin USD is expected to generate 0.92 times more return on investment than Bitfinex Bitcoin. However, Lykke Bitcoin USD is 1.08 times less risky than Bitfinex Bitcoin. It trades about -0.11 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.15 per unit of risk. If you would invest  740,791  in Lykke Bitcoin USD on July 20, 2018 and sell it today you would lose (104,646)  from holding Lykke Bitcoin USD or give up 14.13% of portfolio value over 30 days.

Pair Corralation between Lykke Bitcoin and Bitfinex Bitcoin

0.82
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy74.19%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Lykke 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 Lykke 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 Lykke 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 Lykke Bitcoin i.e. Lykke Bitcoin and Bitfinex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Lykke Bitcoin USD  
0 

Risk-Adjusted Performance

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

Lykke Bitcoin USD

Pair trading matchups for Lykke Bitcoin
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.

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin

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ExchangeNASDAQ
$1206.49

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