Correlation Analysis Between Coinroom Bitcoin and Poloniex Bitcoin

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

Coinroom Bitcoin USD  vs.  Poloniex Bitcoin USD

Coinroom

Bitcoin on Coinroom in USD
 7,429 
15.22  0.20%
Market Cap: 12.8 B
  

Poloniex

Bitcoin on Poloniex in USD
 7,455 
39.53  0.53%
Market Cap: 35.4 B
(25.63)
0.34% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin USD is expected to generate 0.98 times more return on investment than Poloniex Bitcoin. However, Coinroom Bitcoin USD is 1.02 times less risky than Poloniex Bitcoin. It trades about 0.26 of its potential returns per unit of risk. Poloniex Bitcoin USD is currently generating about 0.22 per unit of risk. If you would invest  589,286  in Coinroom Bitcoin USD on June 22, 2018 and sell it today you would earn a total of  148,883  from holding Coinroom Bitcoin USD or generate 25.26% return on investment over 30 days.

Pair Corralation between Coinroom Bitcoin and Poloniex Bitcoin

0.98
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 Coinroom Bitcoin USD and Poloniex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex 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 Poloniex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Bitcoin USD has no effect on the direction of Coinroom Bitcoin i.e. Coinroom Bitcoin and Poloniex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinroom Bitcoin USD  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Bitcoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Coinroom Bitcoin USD

Pair trading matchups for Coinroom Bitcoin
Poloniex Bitcoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Poloniex Bitcoin USD

Pair trading matchups for Poloniex Bitcoin

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
$1186.96

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See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..


 
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