Correlation Analysis Between CoinDeal Bitcoin and Liquid Bitcoin

This module allows you to analyze existing cross correlation between CoinDeal Bitcoin USD and Liquid Bitcoin USD. You can compare the effects of market volatilities on CoinDeal Bitcoin and Liquid Bitcoin 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 CoinDeal Bitcoin with a short position of Liquid Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of CoinDeal Bitcoin and Liquid Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

CoinDeal Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days CoinDeal Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, CoinDeal Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Liquid Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, Liquid Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

CoinDeal Bitcoin and Liquid Bitcoin Volatility Contrast

CoinDeal Bitcoin USD  vs.  Liquid Bitcoin USD

CoinDeal

Bitcoin on CoinDeal in USD

 10,192 
0.00  0.00%
Market Cap: 43.3 B
  

Liquid

Bitcoin on Liquid in USD

 10,148 
0.00  0.00%
Market Cap: 167.2 B
 44.00 
0.43% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CoinDeal Bitcoin USD is expected to generate 1.4 times more return on investment than Liquid Bitcoin. However, CoinDeal Bitcoin is 1.4 times more volatile than Liquid Bitcoin USD. It trades about 0.49 of its potential returns per unit of risk. Liquid Bitcoin USD is currently generating about 0.55 per unit of risk. If you would invest  982,439  in CoinDeal Bitcoin USD on August 21, 2019 and sell it today you would earn a total of  36,692  from holding CoinDeal Bitcoin USD or generate 3.73% return on investment over 30 days.

Pair Corralation between CoinDeal Bitcoin and Liquid Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for CoinDeal Bitcoin and Liquid Bitcoin

CoinDeal Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding CoinDeal Bitcoin USD and Liquid Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Liquid Bitcoin USD and CoinDeal 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 CoinDeal Bitcoin USD are associated (or correlated) with Liquid Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Liquid Bitcoin USD has no effect on the direction of CoinDeal Bitcoin i.e. CoinDeal Bitcoin and Liquid Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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