Correlation Analysis Between P2PB2B Bitcoin and Liquid Bitcoin

This module allows you to analyze existing cross correlation between P2PB2B Bitcoin USD and Liquid Bitcoin USD. You can compare the effects of market volatilities on P2PB2B Bitcoin and Liquid 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 P2PB2B Bitcoin with a short position of Liquid Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of P2PB2B Bitcoin and Liquid Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

P2PB2B Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Bitcoin 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 basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Liquid Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

P2PB2B Bitcoin and Liquid Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

P2PB2B Bitcoin USD  vs.  Liquid Bitcoin USD

P2PB2B

Bitcoin on P2PB2B in USD

 10,063 
(26.44)  0.26%
Market Cap: 1856.3 B
  

Liquid

Bitcoin on Liquid in USD

 9,920 
(164.57)  1.63%
Market Cap: 60.4 B
 142.93 
1.42% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, P2PB2B Bitcoin USD is expected to under-perform the Liquid Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, P2PB2B Bitcoin USD is 1.12 times less risky than Liquid Bitcoin. The crypto trades about -0.04 of its potential returns per unit of risk. The Liquid Bitcoin USD is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest  1,167,856  in Liquid Bitcoin USD on July 22, 2019 and sell it today you would lose (161,544)  from holding Liquid Bitcoin USD or give up 13.83% of portfolio value over 30 days.

Pair Corralation between P2PB2B Bitcoin and Liquid Bitcoin

0.79
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for P2PB2B Bitcoin and Liquid Bitcoin

P2PB2B Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding P2PB2B Bitcoin USD and Liquid Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Liquid Bitcoin USD and P2PB2B 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 P2PB2B Bitcoin USD are associated (or correlated) with Liquid Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Liquid Bitcoin USD has no effect on the direction of P2PB2B Bitcoin i.e. P2PB2B Bitcoin and Liquid Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.


 
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