Correlation Analysis Between ExtStock Bitcoin and LakeBTC Bitcoin

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

Comparative Performance

ExtStock Bitcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ExtStock Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, ExtStock Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
LakeBTC Bitcoin USD  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LakeBTC Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, LakeBTC Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

ExtStock Bitcoin and LakeBTC Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

ExtStock Bitcoin USD  vs.  LakeBTC Bitcoin USD

ExtStock

Bitcoin on ExtStock in USD

 10,695 
3.14  0.0294%
Market Cap: 32.2 B
  

LakeBTC

Bitcoin on LakeBTC in USD

 11,093 
(43.95)  0.39%
Market Cap: 68.9 B
(398.14)
3.72% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ExtStock Bitcoin USD is expected to generate 1.05 times more return on investment than LakeBTC Bitcoin. However, ExtStock Bitcoin is 1.05 times more volatile than LakeBTC Bitcoin USD. It trades about 0.06 of its potential returns per unit of risk. LakeBTC Bitcoin USD is currently generating about 0.04 per unit of risk. If you would invest  1,000,559  in ExtStock Bitcoin USD on July 21, 2019 and sell it today you would earn a total of  68,657  from holding ExtStock Bitcoin USD or generate 6.86% return on investment over 30 days.

Pair Corralation between ExtStock Bitcoin and LakeBTC Bitcoin

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for ExtStock Bitcoin and LakeBTC Bitcoin

ExtStock Bitcoin USD diversification synergy

Almost no diversification

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