Pair Correlation Between Lykke Bitcoin and Gatecoin Bitcoin

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

Lykke

Bitcoin on Lykke in USD
 13,044 
(19.37)  0.15%
Market Cap: 625.1 M
 1,294 

Gatecoin

Bitcoin on Gatecoin in USD
 11,750 
150  1.29%
Market Cap: 2.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Lykke Bitcoin USD is expected to under-perform the Gatecoin Bitcoin. In addition to that, Lykke Bitcoin is 1.17 times more volatile than Gatecoin Bitcoin USD. It trades about -0.24 of its total potential returns per unit of risk. Gatecoin Bitcoin USD is currently generating about -0.17 per unit of volatility. If you would invest  1,743,900  in Gatecoin Bitcoin USD on December 19, 2017 and sell it today you would lose (568,900)  from holding Gatecoin Bitcoin USD or give up 32.62% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Lykke Bitcoin and Gatecoin Bitcoin
0.35

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy54.84%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Lykke Bitcoin USD

  
0 

Risk-Adjusted Performance

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

Lykke Bitcoin USD

Pair trading matchups for Lykke Bitcoin

Gatecoin Bitcoin USD

  
0 

Risk-Adjusted Performance

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

Gatecoin Bitcoin USD

Pair trading matchups for Gatecoin Bitcoin