Pair Correlation Between Cexio Bitcoin and Exmo Bitcoin

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

Cexio

Bitcoin on Cexio in USD
 20,285 
1,561  8.34%
Market Cap: 629 B
 1,475 

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, Cexio Bitcoin USD is expected to generate 1.34 times more return on investment than Exmo Bitcoin. However, Cexio Bitcoin is 1.34 times more volatile than Exmo Bitcoin USD. It trades about 0.37 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.46 per unit of risk. If you would invest  786,490  in Cexio Bitcoin USD on November 16, 2017 and sell it today you would earn a total of  1,143,160  from holding Cexio Bitcoin USD or generate 145.35% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio 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 Cexio 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 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 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 Cexio Bitcoin i.e. Cexio Bitcoin and Exmo Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Bitcoin USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 24 (%) 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.