Correlation Analysis Between Bitstamp Bitcoin and Bitfinex Bitcoin

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

Bitstamp Bitcoin USD  vs.  Bitfinex Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 6,394 
23.23  0.36%
Market Cap: 11.9 B
  

Bitfinex

Bitcoin on Bitfinex in USD

 6,595 
3.20  0.0485%
Market Cap: 71.4 B
(200.98)
3.14% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to under-perform the Bitfinex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Bitcoin USD is 1.28 times less risky than Bitfinex Bitcoin. The crypto trades about -0.01 of its potential returns per unit of risk. The Bitfinex Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  642,930  in Bitfinex Bitcoin USD on September 19, 2018 and sell it today you would earn a total of  16,250  from holding Bitfinex Bitcoin USD or generate 2.53% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and Bitfinex Bitcoin

0.76
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1121.28

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