Correlation Analysis Between Cexio Bitcoin and StocksExchange Bitcoin

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

Cexio Bitcoin USD  
2323

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Cexio Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
StocksExchange Bitcoin  
2424

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in StocksExchange Bitcoin USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, StocksExchange Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.

Cexio Bitcoin and StocksExchange Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Bitcoin USD  vs.  StocksExchange Bitcoin USD

Cexio

Bitcoin on Cexio in USD

 7,380 
(521.20)  6.60%
Market Cap: 7.1 B
  

StocksExchange

Bitcoin on StocksExchange in USD

 7,200 
58.53  0.82%
Market Cap: 2 B
 180.40 
2.44% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Bitcoin USD is expected to generate 1.17 times more return on investment than StocksExchange Bitcoin. However, Cexio Bitcoin is 1.17 times more volatile than StocksExchange Bitcoin USD. It trades about 0.35 of its potential returns per unit of risk. StocksExchange Bitcoin USD is currently generating about 0.35 per unit of risk. If you would invest  395,500  in Cexio Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  394,660  from holding Cexio Bitcoin USD or generate 99.79% return on investment over 30 days.

Pair Corralation between Cexio Bitcoin and StocksExchange Bitcoin

0.95
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.56%
ValuesDaily Returns

Diversification Opportunities for Cexio Bitcoin and StocksExchange Bitcoin

Cexio Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Cexio Bitcoin USD and StocksExchange Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on StocksExchange Bitcoin 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 StocksExchange Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of StocksExchange Bitcoin has no effect on the direction of Cexio Bitcoin i.e. Cexio Bitcoin and StocksExchange Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.


 
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