Pair Correlation Between Coinbase Bitcoin and LiveCoin Adzcoin

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


Bitcoin on Coinbase in USD
630.89  5.61%
Market Cap: 1783.9 B


Adzcoin on LiveCoin in USD
0.01467  18.57%
Market Cap: 149
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the LiveCoin Adzcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 4.03 times less risky than LiveCoin Adzcoin. The crypto trades about -0.07 of its potential returns per unit of risk. The LiveCoin Adzcoin USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  11.26  in LiveCoin Adzcoin USD on January 19, 2018 and sell it today you would lose (4.83)  from holding LiveCoin Adzcoin USD or give up 42.88% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Coinbase Bitcoin and LiveCoin Adzcoin


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

Coinbase Bitcoin USD


Risk-Adjusted Performance

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

LiveCoin Adzcoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Adzcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.