Pair Correlation 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.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Coinbase Bitcoin USD  vs   LiveCoin E-Dinar Coin USD

Coinbase

Bitcoin on Coinbase in USD
 18,184 
504.92  2.86%
Market Cap: 7461.7 B

LiveCoin

E-Dinar Coin on LiveCoin in USD
 0.00686 
(0.0003)  4.19%
Market Cap: 69.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.6 times more return on investment than LiveCoin E-Dinar. However, Coinbase Bitcoin USD is 1.67 times less risky than LiveCoin E-Dinar. It trades about 0.35 of its potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about 0.2 per unit of risk. If you would invest  771,399  in Coinbase Bitcoin USD on November 16, 2017 and sell it today you would earn a total of  996,493  from holding Coinbase Bitcoin USD or generate 129.18% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinbase Bitcoin and LiveCoin E-Dinar
0.09

Parameters

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

Diversification

Significant 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

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

LiveCoin E-Dinar Coin

  
13 

Risk-Adjusted Performance

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