Correlation Analysis Between LiveCoin Dash and Bitfinex Bitcoin

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

Comparative Performance

LiveCoin Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly fragile fundamental indicators, LiveCoin Dash layed out solid returns over the last few months and may actually be approaching a breakup point.
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 rather fragile fundamental drivers, Bitfinex Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.

LiveCoin Dash and Bitfinex Bitcoin Volatility Contrast

LiveCoin Dash USD  vs.  Bitfinex Bitcoin USD

LiveCoin

Dash on LiveCoin in USD

 101.47 
9.45  10.27%
Market Cap: 1.4 M
  

Bitfinex

Bitcoin on Bitfinex in USD

 10,273 
385.40  3.90%
Market Cap: 304.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Dash USD is expected to generate 9.85 times more return on investment than Bitfinex Bitcoin. However, LiveCoin Dash is 9.85 times more volatile than Bitfinex Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about 0.71 per unit of risk. If you would invest  9,202  in LiveCoin Dash USD on August 20, 2019 and sell it today you would earn a total of  1,498  from holding LiveCoin Dash USD or generate 16.28% return on investment over 30 days.

Pair Corralation between LiveCoin Dash and Bitfinex Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Dash and Bitfinex Bitcoin

LiveCoin Dash USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Dash 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 Dash 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 Dash 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 Dash i.e. LiveCoin Dash and Bitfinex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.


 
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