Correlation Analysis Between LiveCoin Bitcoin and Bitfinex Bitcoin

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

Comparative Performance

LiveCoin Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin Bitcoin is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholder.
Bitfinex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

LiveCoin Bitcoin and Bitfinex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Bitcoin USD  vs.  Bitfinex Bitcoin USD

LiveCoin

Bitcoin on LiveCoin in USD

 10,492 
(94.99)  0.90%
Market Cap: 13.2 M
  

Bitfinex

Bitcoin on Bitfinex in USD

 10,136 
(228.60)  2.21%
Market Cap: 624.7 B
 355.97 
3.39% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Bitcoin USD is expected to generate 0.92 times more return on investment than Bitfinex Bitcoin. However, LiveCoin Bitcoin USD is 1.09 times less risky than Bitfinex Bitcoin. It trades about -0.01 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.05 per unit of risk. If you would invest  1,143,218  in LiveCoin Bitcoin USD on July 25, 2019 and sell it today you would lose (84,522)  from holding LiveCoin Bitcoin USD or give up 7.39% of portfolio value over 30 days.

Pair Corralation between LiveCoin Bitcoin and Bitfinex Bitcoin

0.83
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Bitcoin and Bitfinex Bitcoin

LiveCoin Bitcoin USD diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and LiveCoin 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 LiveCoin Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of LiveCoin Bitcoin i.e. LiveCoin Bitcoin and Bitfinex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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