Correlation Analysis Between Kraken Bitcoin and LiveCoin Bitcoin

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

Comparative Performance

Kraken Bitcoin USD  
00

Risk-Adjusted Performance

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

Kraken Bitcoin and LiveCoin Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Bitcoin USD  vs.  LiveCoin Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 10,080 
5.00  0.0496%
Market Cap: 445.8 B
  

LiveCoin

Bitcoin on LiveCoin in USD

 10,280 
(112.00)  1.08%
Market Cap: 13.2 M
(200.00)
1.98% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to under-perform the LiveCoin Bitcoin. In addition to that, Kraken Bitcoin is 1.26 times more volatile than LiveCoin Bitcoin USD. It trades about -0.08 of its total potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about -0.09 per unit of volatility. If you would invest  1,309,900  in LiveCoin Bitcoin USD on July 26, 2019 and sell it today you would lose (281,900)  from holding LiveCoin Bitcoin USD or give up 21.52% of portfolio value over 30 days.

Pair Corralation between Kraken Bitcoin and LiveCoin Bitcoin

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for Kraken Bitcoin and LiveCoin Bitcoin

Kraken Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Kraken 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 Kraken 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 Kraken 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 Kraken Bitcoin i.e. Kraken Bitcoin and LiveCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Companies Directory module to evaluate performance of over 100,000 stocks, funds, and etfs against different fundamentals.


 
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