Correlation Analysis 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.
Horizon     30 Days    Login   to change

Bitstamp Bitcoin USD  vs.  Exmo Bitcoin USD


Bitcoin on Bitstamp in USD

72.49  1.12%
Market Cap: 11.9 B


Bitcoin on Exmo in USD

82.05  1.23%
Market Cap: 18 B
3.44% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin is expected to generate 48.14 times less return on investment than Exmo Bitcoin. In addition to that, Bitstamp Bitcoin is 1.18 times more volatile than Exmo Bitcoin USD. It trades about 0.0 of its total potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.1 per unit of volatility. If you would invest  641,810  in Exmo Bitcoin USD on September 18, 2018 and sell it today you would earn a total of  23,290  from holding Exmo Bitcoin USD or generate 3.63% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and Exmo Bitcoin

Time Period1 Month [change]
ValuesDaily Returns


Poor 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 
Bitstamp Bitcoin USD  

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.
Exmo Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

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