Correlation Analysis Between Cexio Bitcoin and Bitfinex Bitcoin

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

Cexio Bitcoin USD  vs.  Bitfinex Bitcoin USD

Cexio

Bitcoin on Cexio in USD
 7,441 
22.70  0.31%
Market Cap: 10.1 B
  

Bitfinex

Bitcoin on Bitfinex in USD
 7,492 
54.90  0.74%
Market Cap: 288.1 B
(51.70)
0.69% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Bitcoin is expected to generate 1.07 times less return on investment than Bitfinex Bitcoin. But when comparing it to its historical volatility, Cexio Bitcoin USD is 1.06 times less risky than Bitfinex Bitcoin. It trades about 0.12 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  671,000  in Bitfinex Bitcoin USD on June 20, 2018 and sell it today you would earn a total of  74,000  from holding Bitfinex Bitcoin USD or generate 11.03% return on investment over 30 days.

Pair Corralation between Cexio Bitcoin and Bitfinex Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Cexio Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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