Pair Correlation 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Coinbase Bitcoin USD  vs   LiveCoin Karbo USD

Coinbase

Bitcoin on Coinbase in USD
 10,054 
276.93  2.68%
Market Cap: 1783.9 B

LiveCoin

Karbo on LiveCoin in USD
 1.16 
0.07  6.42%
Market Cap: 548
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.86 times more return on investment than LiveCoin Karbo. However, Coinbase Bitcoin USD is 1.16 times less risky than LiveCoin Karbo. It trades about 0.01 of its potential returns per unit of risk. LiveCoin Karbo USD is currently generating about 0.0 per unit of risk. If you would invest  1,081,100  in Coinbase Bitcoin USD on January 25, 2018 and sell it today you would lose (48,001)  from holding Coinbase Bitcoin USD or give up 4.44% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Coinbase Bitcoin and LiveCoin Karbo
0.75

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor 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.

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

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.

LiveCoin Karbo USD

Pair trading matchups for LiveCoin Karbo