Correlation Analysis Between LakeBTC Bitcoin and StocksExchange Bitcoin

This module allows you to analyze existing cross correlation between LakeBTC Bitcoin USD and StocksExchange Bitcoin USD. You can compare the effects of market volatilities on LakeBTC Bitcoin and StocksExchange 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 StocksExchange Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LakeBTC Bitcoin and StocksExchange 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 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.
StocksExchange Bitcoin  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in StocksExchange Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, StocksExchange Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.

LakeBTC Bitcoin and StocksExchange Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

LakeBTC Bitcoin USD  vs.  StocksExchange Bitcoin USD

LakeBTC

Bitcoin on LakeBTC in USD

 10,493 
(247.54)  2.30%
Market Cap: 94.2 B
  

StocksExchange

Bitcoin on StocksExchange in USD

 10,353 
(434.91)  4.03%
Market Cap: 3.9 M
 139.62 
1.33% 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 StocksExchange Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, LakeBTC Bitcoin USD is 3.62 times less risky than StocksExchange Bitcoin. The crypto trades about -0.07 of its potential returns per unit of risk. The StocksExchange Bitcoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  1,169,700  in StocksExchange Bitcoin USD on July 25, 2019 and sell it today you would lose (106,908)  from holding StocksExchange Bitcoin USD or give up 9.14% of portfolio value over 30 days.

Pair Corralation between LakeBTC Bitcoin and StocksExchange Bitcoin

0.21
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LakeBTC Bitcoin and StocksExchange Bitcoin

LakeBTC Bitcoin USD diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding LakeBTC Bitcoin USD and StocksExchange Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on StocksExchange Bitcoin 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 StocksExchange Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of StocksExchange Bitcoin has no effect on the direction of LakeBTC Bitcoin i.e. LakeBTC Bitcoin and StocksExchange Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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