Correlation Analysis Between BTCAlpha Bitcoin and LakeBTC Bitcoin

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

Comparative Performance

BTCAlpha Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
LakeBTC Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LakeBTC Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

BTCAlpha Bitcoin and LakeBTC Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

BTCAlpha Bitcoin USD  vs.  LakeBTC Bitcoin USD

BTCAlpha

Bitcoin on BTCAlpha in USD

 10,783 
1,771  19.66%
Market Cap: 45.9 B
  

LakeBTC

Bitcoin on LakeBTC in USD

 11,137 
937.18  9.19%
Market Cap: 68.9 B
(354.05)
3.28% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BTCAlpha Bitcoin USD is expected to under-perform the LakeBTC Bitcoin. In addition to that, BTCAlpha Bitcoin is 1.04 times more volatile than LakeBTC Bitcoin USD. It trades about -0.06 of its total potential returns per unit of risk. LakeBTC Bitcoin USD is currently generating about -0.03 per unit of volatility. If you would invest  1,200,559  in LakeBTC Bitcoin USD on July 23, 2019 and sell it today you would lose (180,538)  from holding LakeBTC Bitcoin USD or give up 15.04% of portfolio value over 30 days.

Pair Corralation between BTCAlpha Bitcoin and LakeBTC Bitcoin

0.73
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for BTCAlpha Bitcoin and LakeBTC Bitcoin

BTCAlpha Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding BTCAlpha 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 BTCAlpha 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 BTCAlpha 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 BTCAlpha Bitcoin i.e. BTCAlpha Bitcoin and LakeBTC Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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