Correlation Analysis Between Gemini Bitcoin and LiveCoin Bitcoin

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

Gemini Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Gemini Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile 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  
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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 fragile performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Gemini Bitcoin and LiveCoin Bitcoin Volatility Contrast

Gemini Bitcoin USD  vs.  LiveCoin Bitcoin USD

Gemini

Bitcoin on Gemini in USD

 10,040 
(71.48)  0.71%
Market Cap: 342.7 B
  

LiveCoin

Bitcoin on LiveCoin in USD

 10,320 
(91.88)  0.88%
Market Cap: 113.7 B
(279.89)
2.79% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 0.64 times more return on investment than LiveCoin Bitcoin. However, Gemini Bitcoin USD is 1.56 times less risky than LiveCoin Bitcoin. It trades about -0.71 of its potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest  1,011,128  in Gemini Bitcoin USD on August 22, 2019 and sell it today you would lose (3,375)  from holding Gemini Bitcoin USD or give up 0.33% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and LiveCoin Bitcoin

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

Diversification Opportunities for Gemini Bitcoin and LiveCoin Bitcoin

Gemini Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Gemini 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 Gemini 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 Gemini 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 Gemini Bitcoin i.e. Gemini Bitcoin and LiveCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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