Pair Correlation Between TheRockTrading Bitcoin and LakeBTC Bitcoin

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

TheRockTrading

Bitcoin on TheRockTrading in USD
 15,790 
2,290  16.96%
Market Cap: 144.4 K
 2,232 
14.14% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

LakeBTC

Bitcoin on LakeBTC in USD
 13,558 
266.1  2%
Market Cap: 40.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TheRockTrading Bitcoin USD is expected to generate 1.12 times more return on investment than LakeBTC Bitcoin. However, TheRockTrading Bitcoin is 1.12 times more volatile than LakeBTC Bitcoin USD. It trades about 0.41 of its potential returns per unit of risk. LakeBTC Bitcoin USD is currently generating about 0.38 per unit of risk. If you would invest  637,296  in TheRockTrading Bitcoin USD on November 10, 2017 and sell it today you would earn a total of  922,604  from holding TheRockTrading Bitcoin USD or generate 144.77% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between TheRockTrading Bitcoin and LakeBTC Bitcoin
1.0

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 

TheRockTrading Bitcoin

  
26 

Risk-Adjusted Performance

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

LakeBTC Bitcoin USD

  
25 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LakeBTC Bitcoin USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.