Correlation Analysis Between Liquid Bitcoin and BTCAlpha Bitcoin

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

Comparative Performance

Liquid Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak 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.
BTCAlpha Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha 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.

Liquid Bitcoin and BTCAlpha Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  BTCAlpha Bitcoin USD

Liquid

Bitcoin on Liquid in USD

 9,979 
(2.57)  0.0257%
Market Cap: 60.4 B
  

BTCAlpha

Bitcoin on BTCAlpha in USD

 10,783 
1,771  19.66%
Market Cap: 45.9 B
(804.65)
8.06% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin USD is expected to generate 0.95 times more return on investment than BTCAlpha Bitcoin. However, Liquid Bitcoin USD is 1.05 times less risky than BTCAlpha Bitcoin. It trades about -0.03 of its potential returns per unit of risk. BTCAlpha Bitcoin USD is currently generating about -0.06 per unit of risk. If you would invest  1,167,856  in Liquid Bitcoin USD on July 23, 2019 and sell it today you would lose (169,987)  from holding Liquid Bitcoin USD or give up 14.56% of portfolio value over 30 days.

Pair Corralation between Liquid Bitcoin and BTCAlpha Bitcoin

0.69
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and BTCAlpha Bitcoin

Liquid Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Bitcoin USD and BTCAlpha Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BTCAlpha Bitcoin USD and Liquid 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 Liquid Bitcoin USD are associated (or correlated) with BTCAlpha Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTCAlpha Bitcoin USD has no effect on the direction of Liquid Bitcoin i.e. Liquid Bitcoin and BTCAlpha Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.


 
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