This module allows you to analyze existing cross correlation between Exmo Bitcoin USD and Cexio Bitcoin USD. You can compare the effects of market volatilities on Exmo 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 Exmo Bitcoin with a short position of Cexio Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Exmo Bitcoin
and Cexio Bitcoin
Exmo Bitcoin USD vs Cexio Bitcoin USD
Assuming 30 trading days horizon, Exmo Bitcoin is expected to generate 1.06 times less return on investment than Cexio Bitcoin. But when comparing it to its historical volatility, Exmo Bitcoin USD is 1.35 times less risky than Cexio Bitcoin. It trades about 0.45 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest 797,500 in Cexio Bitcoin USD on November 15, 2017 and sell it today you would earn a total of 1,051,327 from holding Cexio Bitcoin USD or generate 131.83% 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 Cexio Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio 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 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 Exmo Bitcoin i.e. Exmo Bitcoin and Cexio 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 29 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.