Pair Correlation Between Coinbase Bitcoin and Lykke Time

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


Bitcoin on Coinbase in USD
(670.21)  3.88%
Market Cap: 7429.6 B


Time on Lykke in USD
0.02  0.1%
Market Cap: 24.3 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 1.53 times more return on investment than Lykke Time. However, Coinbase Bitcoin is 1.53 times more volatile than Lykke Time USD. It trades about 0.42 of its potential returns per unit of risk. Lykke Time USD is currently generating about 0.0 per unit of risk. If you would invest  590,997  in Coinbase Bitcoin USD on November 11, 2017 and sell it today you would earn a total of  1,094,440  from holding Coinbase Bitcoin USD or generate 185.19% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinbase Bitcoin and Lykke Time


Time Period1 Month [change]
ValuesDaily Returns


Excellent diversification

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

Comparative Volatility

 Predicted Return Density 

Coinbase Bitcoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.

Lykke Time USD


Risk-Adjusted Performance

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