Correlation Analysis Between Liquid Bitcoin and Neraex Bitcoin

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

Risk-Adjusted Performance

Over the last 30 days Neraex 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.

Liquid Bitcoin and Neraex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  Neraex Bitcoin USD

Liquid

Bitcoin on Liquid in USD

 10,204 
14.14  0.14%
Market Cap: 60.4 B
  

Neraex

Bitcoin on Neraex in USD

 10,368 
63.33  0.61%
Market Cap: 38 B
(163.89)
1.61% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin USD is expected to generate 1.0 times more return on investment than Neraex Bitcoin. However, Liquid Bitcoin USD is 1.0 times less risky than Neraex Bitcoin. It trades about -0.02 of its potential returns per unit of risk. Neraex 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 24, 2019 and sell it today you would lose (144,574)  from holding Liquid Bitcoin USD or give up 12.38% of portfolio value over 30 days.

Pair Corralation between Liquid Bitcoin and Neraex Bitcoin

0.81
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and Neraex 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 Neraex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Neraex 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 Neraex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neraex Bitcoin USD has no effect on the direction of Liquid Bitcoin i.e. Liquid Bitcoin and Neraex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try ETF Directory module to find actively-traded exchange traded funds (etf) from around the world.


 
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