Correlation Analysis Between Coinbase Bitcoin and LiveCoin NEM

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

Coinbase Bitcoin USD  vs.  LiveCoin NEM USD


Bitcoin on Coinbase in USD

13.38  0.21%
Market Cap: 43.4 B


NEM on LiveCoin in USD

0.00035  0.35%
Market Cap: 5.6 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the LiveCoin NEM. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 2.66 times less risky than LiveCoin NEM. The crypto trades about -0.01 of its potential returns per unit of risk. The LiveCoin NEM USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  9.27  in LiveCoin NEM USD on September 23, 2018 and sell it today you would earn a total of  0.68  from holding LiveCoin NEM USD or generate 7.32% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and LiveCoin NEM

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest diversification

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

Comparative Volatility

 Predicted Return Density 
Coinbase Bitcoin USD  

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 NEM USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

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