This module allows you to analyze existing cross correlation between Exmo Bitcoin USD and BitBay Bitcoin USD. You can compare the effects of market volatilities on Exmo Bitcoin and BitBay 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 Exmo Bitcoin with a short position of BitBay Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Exmo Bitcoin
and BitBay Bitcoin
Exmo Bitcoin USD vs BitBay Bitcoin USD
Assuming 30 trading days horizon, Exmo Bitcoin is expected to generate 2.0 times less return on investment than BitBay Bitcoin. But when comparing it to its historical volatility, Exmo Bitcoin USD is 3.83 times less risky than BitBay Bitcoin. It trades about 0.47 of its potential returns per unit of risk. BitBay Bitcoin USD is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 459,900 in BitBay Bitcoin USD on November 12, 2017 and sell it today you would earn a total of 1,228,513 from holding BitBay Bitcoin USD or generate 267.13% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Exmo Bitcoin USD and BitBay Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitBay Bitcoin USD and Exmo 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 Exmo Bitcoin USD are associated (or correlated) with BitBay Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitBay Bitcoin USD has no effect on the direction of Exmo Bitcoin i.e. Exmo Bitcoin and BitBay Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 31 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in BitBay Bitcoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.