Correlation Analysis Between OKCoin Bitcoin and LiveCoin Veros

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

Comparative Performance

OKCoin Bitcoin USD  
2626

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in OKCoin Bitcoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, OKCoin Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
LiveCoin Veros USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Veros 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 June 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

OKCoin Bitcoin and LiveCoin Veros Volatility Contrast

 Predicted Return Density 
      Returns 

OKCoin Bitcoin USD  vs.  LiveCoin Veros USD

OKCoin

Bitcoin on OKCoin in USD

 7,307 
(603.46)  7.63%
Market Cap: 6.6 B
  

LiveCoin

Veros on LiveCoin in USD

 0.00476 
0.00066  16.10%
Market Cap: 83.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Bitcoin USD is expected to generate 0.89 times more return on investment than LiveCoin Veros. However, OKCoin Bitcoin USD is 1.13 times less risky than LiveCoin Veros. It trades about 0.39 of its potential returns per unit of risk. LiveCoin Veros USD is currently generating about -0.19 per unit of risk. If you would invest  390,094  in OKCoin Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  404,763  from holding OKCoin Bitcoin USD or generate 103.76% return on investment over 30 days.

Pair Corralation between OKCoin Bitcoin and LiveCoin Veros

-0.82
Time Period2 Months [change]
DirectionNegative 
StrengthSignificant
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and LiveCoin Veros

OKCoin Bitcoin USD diversification synergy

Pay attention

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