Correlation Analysis Between LakeBTC Bitcoin and Coinbase Bitcoin

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

Comparative Performance

LakeBTC Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LakeBTC Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, LakeBTC Bitcoin is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short term losses for the investors.
Coinbase Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Coinbase Bitcoin is not utilizing all of its potentials. The latest stock price agitation, may contribute to short term losses for the management.

LakeBTC Bitcoin and Coinbase Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

LakeBTC Bitcoin USD  vs.  Coinbase Bitcoin USD

LakeBTC

Bitcoin on LakeBTC in USD

 10,684 
(56.52)  0.53%
Market Cap: 68.9 B
  

Coinbase

Bitcoin on Coinbase in USD

 10,362 
(51.26)  0.49%
Market Cap: 871.2 B
 321.72 
3.01% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LakeBTC Bitcoin USD is expected to under-perform the Coinbase Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, LakeBTC Bitcoin USD is 1.03 times less risky than Coinbase Bitcoin. The crypto trades about -0.01 of its potential returns per unit of risk. The Coinbase Bitcoin USD is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest  1,168,600  in Coinbase Bitcoin USD on July 24, 2019 and sell it today you would lose (126,810)  from holding Coinbase Bitcoin USD or give up 10.85% of portfolio value over 30 days.

Pair Corralation between LakeBTC Bitcoin and Coinbase Bitcoin

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

Diversification Opportunities for LakeBTC Bitcoin and Coinbase Bitcoin

LakeBTC Bitcoin USD diversification synergy

Almost no diversification

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