Correlation Analysis Between Coinbase Bitcoin and LiveCoin E-Dinar

This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and LiveCoin E-Dinar Coin USD. You can compare the effects of market volatilities on Coinbase Bitcoin and LiveCoin E-Dinar 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 E-Dinar. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinbase Bitcoin and LiveCoin E-Dinar.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Coinbase Bitcoin USD  vs.  LiveCoin E-Dinar Coin USD

Coinbase

Bitcoin on Coinbase in USD
 7,387 
76.70  1.03%
Market Cap: 715.7 B
  

LiveCoin

E-Dinar Coin on LiveCoin in USD
 0.01073 
0.00076  6.61%
Market Cap: 210
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.55 times more return on investment than LiveCoin E-Dinar. However, Coinbase Bitcoin USD is 1.82 times less risky than LiveCoin E-Dinar. It trades about 0.21 of its potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about 0.11 per unit of risk. If you would invest  615,300  in Coinbase Bitcoin USD on June 22, 2018 and sell it today you would earn a total of  123,430  from holding Coinbase Bitcoin USD or generate 20.06% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and LiveCoin E-Dinar

0.22
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.65%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin
LiveCoin E-Dinar Coin  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.


 
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