This module allows you to analyze existing cross correlation between LiveCoin Bitcoin USD and Coinsbit Bitcoin USD. You can compare the effects of market volatilities on LiveCoin Bitcoin and Coinsbit 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 Coinsbit Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin Bitcoin and Coinsbit Bitcoin.
|Horizon||30 Days Login to change|
|LiveCoin Bitcoin USD|
Over the last 30 days LiveCoin 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.
|Coinsbit Bitcoin USD|
Over the last 30 days Coinsbit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Coinsbit Bitcoin is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholder.
LiveCoin Bitcoin and Coinsbit Bitcoin Volatility Contrast
Predicted Return Density
LiveCoin Bitcoin USD vs. Coinsbit Bitcoin USD
Assuming 30 trading days horizon, LiveCoin Bitcoin USD is expected to under-perform the Coinsbit Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Bitcoin USD is 1.35 times less risky than Coinsbit Bitcoin. The crypto trades about -0.09 of its potential returns per unit of risk. The Coinsbit Bitcoin USD is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 1,096,200 in Coinsbit Bitcoin USD on July 26, 2019 and sell it today you would lose (87,800) from holding Coinsbit Bitcoin USD or give up 8.01% of portfolio value over 30 days.
Pair Corralation between LiveCoin Bitcoin and Coinsbit Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for LiveCoin Bitcoin and Coinsbit Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Bitcoin USD and Coinsbit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinsbit 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 Coinsbit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinsbit Bitcoin USD has no effect on the direction of LiveCoin Bitcoin i.e. LiveCoin Bitcoin and Coinsbit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.