Pair Correlation Between Bitfinex Bitcoin and Exmo Bitcoin

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

Bitfinex

Bitcoin on Bitfinex in USD
 16,502 
2,004  13.82%
Market Cap: 38.7 B
(14.91)
0.090353% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Exmo

Bitcoin on Exmo in USD
 16,517 
969.91  6.24%
Market Cap: 267.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 1.04 times more return on investment than Exmo Bitcoin. However, Bitfinex Bitcoin is 1.04 times more volatile than Exmo Bitcoin USD. It trades about 0.55 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.51 per unit of risk. If you would invest  576,420  in Bitfinex Bitcoin USD on November 11, 2017 and sell it today you would earn a total of  1,053,180  from holding Bitfinex Bitcoin USD or generate 182.71% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitfinex Bitcoin and Exmo Bitcoin
0.96

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.77%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex 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 Bitfinex 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 Bitfinex 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 Bitfinex Bitcoin i.e. Bitfinex Bitcoin and Exmo Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitfinex Bitcoin USD

  
36 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 36 (%) of all global equities and portfolios over the last 30 days.

Exmo Bitcoin USD

  
33 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 33 (%) of all global equities and portfolios over the last 30 days.