Correlation Analysis Between Exenium Bitcoin and LiveCoin Bitcoin

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

Comparative Performance

Exenium Bitcoin USD  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exenium Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Exenium Bitcoin revealed solid returns over the last few months and may actually be approaching a breakup point.
LiveCoin Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, LiveCoin Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.

Exenium Bitcoin and LiveCoin Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Exenium Bitcoin USD  vs.  LiveCoin Bitcoin USD

Exenium

Bitcoin on Exenium in USD

 10,440 
(124.93)  1.18%
Market Cap: 360.9 M
  

LiveCoin

Bitcoin on LiveCoin in USD

 10,674 
(220.45)  2.02%
Market Cap: 13.2 M
(233.69)
2.24% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exenium Bitcoin is expected to generate 1.38 times less return on investment than LiveCoin Bitcoin. In addition to that, Exenium Bitcoin is 1.09 times more volatile than LiveCoin Bitcoin USD. It trades about 0.04 of its total potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about 0.06 per unit of volatility. If you would invest  998,021  in LiveCoin Bitcoin USD on July 21, 2019 and sell it today you would earn a total of  92,279  from holding LiveCoin Bitcoin USD or generate 9.25% return on investment over 30 days.

Pair Corralation between Exenium Bitcoin and LiveCoin Bitcoin

0.65
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exenium Bitcoin and LiveCoin Bitcoin

Exenium Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exenium 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 Exenium 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 Exenium 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 Exenium Bitcoin i.e. Exenium Bitcoin and LiveCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.


 
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