Pair Correlation Between Lykke Bitcoin and Exmo Bitcoin

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

Lykke

Bitcoin on Lykke in USD
 15,470 
285.58  1.88%
Market Cap: 625.1 M
 2,767 
17.89% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Exmo

Bitcoin on Exmo in USD
 12,703 
583.14  4.81%
Market Cap: 112.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Lykke Bitcoin USD is expected to generate 0.79 times more return on investment than Exmo Bitcoin. However, Lykke Bitcoin USD is 1.27 times less risky than Exmo Bitcoin. It trades about -0.11 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.1 per unit of risk. If you would invest  1,780,000  in Lykke Bitcoin USD on December 19, 2017 and sell it today you would lose (233,000)  from holding Lykke Bitcoin USD or give up 13.09% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Lykke Bitcoin and Exmo Bitcoin
-0.3

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy56.67%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Lykke Bitcoin USD

  

Lykke Bitcoin USD

Pair trading matchups for Lykke Bitcoin

Exmo Bitcoin USD

  
0 

Risk-Adjusted Performance

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

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin