Correlation Analysis Between Bitstamp Bitcoin and Poloniex Bitcoin

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

Bitstamp Bitcoin USD  vs.  Poloniex Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 6,366 
79.06  1.23%
Market Cap: 112.1 B
  

Poloniex

Bitcoin on Poloniex in USD

 6,580 
155.99  2.32%
Market Cap: 17.6 B
(214.29)
3.37% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin is expected to generate 4.58 times less return on investment than Poloniex Bitcoin. But when comparing it to its historical volatility, Bitstamp Bitcoin USD is 1.32 times less risky than Poloniex Bitcoin. It trades about 0.02 of its potential returns per unit of risk. Poloniex Bitcoin USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  641,700  in Poloniex Bitcoin USD on September 18, 2018 and sell it today you would earn a total of  27,320  from holding Poloniex Bitcoin USD or generate 4.26% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and Poloniex Bitcoin

0.71
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 Poloniex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex 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 Poloniex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Bitcoin USD has no effect on the direction of Bitstamp Bitcoin i.e. Bitstamp Bitcoin and Poloniex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Bitcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Poloniex Bitcoin USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

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Alphabet
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ExchangeNASDAQ
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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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