Correlation Analysis Between LiveCoin CapriCoin and Coinbase Bitcoin

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

Comparative Performance

LiveCoin CapriCoin USD  
0

Risk-Adjusted Performance

Over the last 30 days LiveCoin CapriCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Coinbase Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

LiveCoin CapriCoin and Coinbase Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin CapriCoin USD  vs.  Coinbase Bitcoin USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.23 
(0.007)  2.98%
Market Cap: 143
  

Coinbase

Bitcoin on Coinbase in USD

 3,597 
8.95  0.25%
Market Cap: 38.4 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Coinbase Bitcoin. In addition to that, LiveCoin CapriCoin is 2.93 times more volatile than Coinbase Bitcoin USD. It trades about -0.1 of its total potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.05 per unit of volatility. If you would invest  381,706  in Coinbase Bitcoin USD on January 20, 2019 and sell it today you would lose (22,005)  from holding Coinbase Bitcoin USD or give up 5.76% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and Coinbase Bitcoin

0.02
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy97.37%
ValuesDaily Returns

Diversification Opportunities for LiveCoin CapriCoin and Coinbase Bitcoin

LiveCoin CapriCoin USD diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin CapriCoin USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin USD and LiveCoin CapriCoin 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 CapriCoin USD are associated (or correlated) with Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of LiveCoin CapriCoin i.e. LiveCoin CapriCoin and Coinbase Bitcoin go up and down completely randomly.

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LiveCoin CapriCoin USD

Pair trading matchups for LiveCoin CapriCoin

See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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