Correlation Analysis Between Coinbase Bitcoin and LiveCoin Litecoin

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

Coinbase Bitcoin USD  vs.  LiveCoin Litecoin USD

Coinbase

Bitcoin on Coinbase in USD

 5,541 
24.88  0.45%
Market Cap: 42.5 B
  

LiveCoin

Litecoin on LiveCoin in USD

 44.64 
6.25  12.28%
Market Cap: 4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the LiveCoin Litecoin. In addition to that, Coinbase Bitcoin is 1.42 times more volatile than LiveCoin Litecoin USD. It trades about -0.2 of its total potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about -0.11 per unit of volatility. If you would invest  5,367  in LiveCoin Litecoin USD on October 17, 2018 and sell it today you would lose (278.00)  from holding LiveCoin Litecoin USD or give up 5.18% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and LiveCoin Litecoin

0.29
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy90.91%
ValuesDaily Returns

Diversification

Coinbase Bitcoin USD diversification synergy

Modest diversification

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

Risk-Adjusted Performance

Over the last 30 days LiveCoin Litecoin 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
$1036.05

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