Pair Correlation Between Bitstamp Bitcoin and Exmo Bitcoin

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

Bitstamp

Bitcoin on Bitstamp in USD
 18,740 
1,304  7.48%
Market Cap: 3049.2 B
(70.02)

Exmo

Bitcoin on Exmo in USD
 18,810 
1,509  8.72%
Market Cap: 170.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin is expected to generate 1.02 times less return on investment than Exmo Bitcoin. In addition to that, Bitstamp Bitcoin is 1.09 times more volatile than Exmo Bitcoin USD. It trades about 0.41 of its total potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.46 per unit of volatility. If you would invest  765,500  in Exmo Bitcoin USD on November 16, 2017 and sell it today you would earn a total of  1,024,500  from holding Exmo Bitcoin USD or generate 133.83% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitstamp Bitcoin and Exmo Bitcoin
0.94

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitstamp Bitcoin USD

  
27 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.

Exmo Bitcoin USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.