Correlation Analysis Between Coinbase Bitcoin and LiveCoin Karbo

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

Coinbase Bitcoin USD  vs.  LiveCoin Karbo USD

Coinbase

Bitcoin on Coinbase in USD

 3,387 
(86.23)  2.48%
Market Cap: 55.3 B
  

LiveCoin

Karbo on LiveCoin in USD

 0.06 
(0.00441)  7.35%
Market Cap: 51.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.58 times more return on investment than LiveCoin Karbo. However, Coinbase Bitcoin USD is 1.73 times less risky than LiveCoin Karbo. It trades about -0.3 of its potential returns per unit of risk. LiveCoin Karbo USD is currently generating about -0.23 per unit of risk. If you would invest  619,208  in Coinbase Bitcoin USD on November 10, 2018 and sell it today you would lose (280,538)  from holding Coinbase Bitcoin USD or give up 45.31% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and LiveCoin Karbo

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Coinbase Bitcoin USD diversification synergy

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
0

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 Karbo USD  
0

Risk-Adjusted Performance

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

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
$1038.25

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