Correlation Analysis Between DSX Bitcoin and LiveCoin Bitcoin

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

Comparative Performance

DSX Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days DSX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
LiveCoin Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's fundamental indicators remain stable and the prevalent disturbance on Wall Street may also be a sign of long-run gains for the entity stockholder.

DSX Bitcoin and LiveCoin Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

DSX Bitcoin USD  vs.  LiveCoin Bitcoin USD

DSX

Bitcoin on DSX in USD

 9,943 
(175.34)  1.73%
Market Cap: 15.1 B
  

LiveCoin

Bitcoin on LiveCoin in USD

 10,154 
(142.82)  1.39%
Market Cap: 13.2 M
(211.55)
2.13% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DSX Bitcoin USD is expected to under-perform the LiveCoin Bitcoin. In addition to that, DSX Bitcoin is 1.02 times more volatile than LiveCoin Bitcoin USD. It trades about -0.03 of its total potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about -0.02 per unit of volatility. If you would invest  1,136,040  in LiveCoin Bitcoin USD on July 22, 2019 and sell it today you would lose (113,649)  from holding LiveCoin Bitcoin USD or give up 10.0% of portfolio value over 30 days.

Pair Corralation between DSX Bitcoin and LiveCoin Bitcoin

0.82
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for DSX Bitcoin and LiveCoin Bitcoin

DSX Bitcoin USD diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding DSX Bitcoin USD and LiveCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Bitcoin USD and DSX 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 DSX Bitcoin USD are associated (or correlated) with LiveCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Bitcoin USD has no effect on the direction of DSX Bitcoin i.e. DSX Bitcoin and LiveCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.


 
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