Pair Correlation Between QuadrigaCX Bitcoin and LiveCoin Bitcoin

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

QuadrigaCX

Bitcoin on QuadrigaCX in USD
 19,930 
380.01  1.94%
Market Cap: 13.5 B
 2,130 
10.69% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

LiveCoin

Bitcoin on LiveCoin in USD
 17,800 
391.81  2.25%
Market Cap: 42.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to generate 1.01 times more return on investment than LiveCoin Bitcoin. However, QuadrigaCX Bitcoin is 1.01 times more volatile than LiveCoin Bitcoin USD. It trades about 0.41 of its potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about 0.4 per unit of risk. If you would invest  805,409  in QuadrigaCX Bitcoin USD on November 17, 2017 and sell it today you would earn a total of  1,154,589  from holding QuadrigaCX Bitcoin USD or generate 143.35% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between QuadrigaCX Bitcoin and LiveCoin Bitcoin
0.96

Parameters

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

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

QuadrigaCX Bitcoin USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in QuadrigaCX Bitcoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Bitcoin USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Bitcoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.