Pair Correlation Between Coinroom Bitcoin and Abucoins Bitcoin

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

Coinroom

Bitcoin on Coinroom in USD
 15,115 
(382.65)  2.47%
Market Cap: 958.6 M
(1,371)

Abucoins

Bitcoin on Abucoins in USD
 16,486 
122.1  0.75%
Market Cap: 3.1 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin is expected to generate 1.1 times less return on investment than Abucoins Bitcoin. In addition to that, Coinroom Bitcoin is 1.13 times more volatile than Abucoins Bitcoin USD. It trades about 0.4 of its total potential returns per unit of risk. Abucoins Bitcoin USD is currently generating about 0.49 per unit of volatility. If you would invest  652,720  in Abucoins Bitcoin USD on November 13, 2017 and sell it today you would earn a total of  995,880  from holding Abucoins Bitcoin USD or generate 152.57% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinroom Bitcoin and Abucoins Bitcoin
0.99

Parameters

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Coinroom Bitcoin USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Bitcoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.

Coinroom Bitcoin USD

Pair trading matchups for Coinroom Bitcoin

Abucoins Bitcoin USD

  
32 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Abucoins Bitcoin USD are ranked lower than 32 (%) of all global equities and portfolios over the last 30 days.

Abucoins Bitcoin USD

Pair trading matchups for Abucoins Bitcoin