Correlation Analysis Between Coinroom Bitcoin and Bitfinex Bitcoin

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

Comparative Performance

Coinroom Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Coinroom Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Coinroom Bitcoin and Bitfinex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinroom Bitcoin USD  vs.  Bitfinex Bitcoin USD

Coinroom

Bitcoin on Coinroom in USD

 3,343 
221.44  7.09%
Market Cap: 1.9 B
  

Bitfinex

Bitcoin on Bitfinex in USD

 3,322 
60.80  1.86%
Market Cap: 129.8 B
 21.57 
0.65% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin USD is expected to under-perform the Bitfinex Bitcoin. In addition to that, Coinroom Bitcoin is 1.02 times more volatile than Bitfinex Bitcoin USD. It trades about -0.34 of its total potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.34 per unit of volatility. If you would invest  672,740  in Bitfinex Bitcoin USD on November 16, 2018 and sell it today you would lose (339,750)  from holding Bitfinex Bitcoin USD or give up 50.5% of portfolio value over 30 days.

Pair Corralation between Coinroom Bitcoin and Bitfinex Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for Coinroom Bitcoin and Bitfinex Bitcoin

Coinroom Bitcoin USD diversification synergy

No risk reduction

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

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