Correlation Analysis Between Liquid Bitcoin and CoinDeal Bitcoin

This module allows you to analyze existing cross correlation between Liquid Bitcoin USD and CoinDeal Bitcoin USD. You can compare the effects of market volatilities on Liquid Bitcoin and CoinDeal 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 CoinDeal Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Liquid Bitcoin and CoinDeal 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 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.
CoinDeal Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days CoinDeal 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.

Liquid Bitcoin and CoinDeal Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  CoinDeal Bitcoin USD

Liquid

Bitcoin on Liquid in USD

 10,019 
(359.87)  3.47%
Market Cap: 60.4 B
  

CoinDeal

Bitcoin on CoinDeal in USD

 10,014 
(333.13)  3.22%
Market Cap: 29.4 B
 4.75 
0.047409% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin USD is expected to under-perform the CoinDeal Bitcoin. In addition to that, Liquid Bitcoin is 1.09 times more volatile than CoinDeal Bitcoin USD. It trades about -0.06 of its total potential returns per unit of risk. CoinDeal Bitcoin USD is currently generating about -0.06 per unit of volatility. If you would invest  1,240,479  in CoinDeal Bitcoin USD on July 25, 2019 and sell it today you would lose (239,041)  from holding CoinDeal Bitcoin USD or give up 19.27% of portfolio value over 30 days.

Pair Corralation between Liquid Bitcoin and CoinDeal Bitcoin

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and CoinDeal Bitcoin

Liquid Bitcoin USD diversification synergy

Almost no diversification

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


 
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