Correlation Analysis Between Coinbase Bitcoin and LiveCoin LEOcoin

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

Comparative Performance

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 LEOcoin USD  
0

Risk-Adjusted Performance

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

Coinbase Bitcoin and LiveCoin LEOcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinbase Bitcoin USD  vs.  LiveCoin LEOcoin USD

Coinbase

Bitcoin on Coinbase in USD

 3,417 
197.80  6.14%
Market Cap: 40.3 B
  

LiveCoin

LEOcoin on LiveCoin in USD

 0.07 
0.01408  24.11%
Market Cap: 36.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the LiveCoin LEOcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 1.85 times less risky than LiveCoin LEOcoin. The crypto trades about -0.32 of its potential returns per unit of risk. The LiveCoin LEOcoin USD is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest  11.01  in LiveCoin LEOcoin USD on November 17, 2018 and sell it today you would lose (3.93)  from holding LiveCoin LEOcoin USD or give up 35.69% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and LiveCoin LEOcoin

0.94
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinbase Bitcoin and LiveCoin LEOcoin

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 LEOcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin LEOcoin 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 LEOcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin LEOcoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and LiveCoin LEOcoin go up and down completely randomly.

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