Correlation Analysis Between Liquid Bitcoin and coinfield Bitcoin

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

Risk-Adjusted Performance

Over the last 30 days coinfield Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Crypto's fundamental drivers remain sound and the ongoing tumult on Wall Street may also be a sign of longer-term gains for the entity shareholders.

Liquid Bitcoin and coinfield Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  coinfield Bitcoin USD

Liquid

Bitcoin on Liquid in USD

 9,920 
(164.57)  1.63%
Market Cap: 60.4 B
  

coinfield

Bitcoin on coinfield in USD

 9,838 
(223.79)  2.22%
Market Cap: 14.8 B
 82.05 
0.83% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin USD is expected to generate 1.01 times more return on investment than coinfield Bitcoin. However, Liquid Bitcoin is 1.01 times more volatile than coinfield Bitcoin USD. It trades about -0.03 of its potential returns per unit of risk. coinfield Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest  1,167,856  in Liquid Bitcoin USD on July 22, 2019 and sell it today you would lose (161,544)  from holding Liquid Bitcoin USD or give up 13.83% of portfolio value over 30 days.

Pair Corralation between Liquid Bitcoin and coinfield Bitcoin

0.87
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and coinfield Bitcoin

Liquid Bitcoin USD diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Bitcoin USD and coinfield Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield 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 coinfield Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield Bitcoin USD has no effect on the direction of Liquid Bitcoin i.e. Liquid Bitcoin and coinfield Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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