Correlation Analysis Between Coinbase Bitcoin and Cexio Bitcoin

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

Coinbase Bitcoin USD  vs.  Cexio Bitcoin USD

Coinbase

Bitcoin on Coinbase in USD

 6,400 
48.99  0.76%
Market Cap: 51.6 B
  

Cexio

Bitcoin on Cexio in USD

 6,587 
65.30  0.98%
Market Cap: 3.6 B
(187.10)
2.92% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 5.26 times less return on investment than Cexio Bitcoin. In addition to that, Coinbase Bitcoin is 1.02 times more volatile than Cexio Bitcoin USD. It trades about 0.02 of its total potential returns per unit of risk. Cexio Bitcoin USD is currently generating about 0.09 per unit of volatility. If you would invest  641,650  in Cexio Bitcoin USD on September 18, 2018 and sell it today you would earn a total of  23,730  from holding Cexio Bitcoin USD or generate 3.7% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and Cexio Bitcoin

0.8
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and Cexio Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Bitcoin USD and Coinbase 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 Coinbase Bitcoin USD are associated (or correlated) with Cexio Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Bitcoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Cexio Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
1 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio 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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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1092.25

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