Correlation Analysis Between EXRATES Bitcoin and P2PB2B Bitcoin

This module allows you to analyze existing cross correlation between EXRATES Bitcoin USD and P2PB2B Bitcoin USD. You can compare the effects of market volatilities on EXRATES Bitcoin and P2PB2B 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 EXRATES Bitcoin with a short position of P2PB2B Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of EXRATES Bitcoin and P2PB2B Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

EXRATES Bitcoin USD  
2424

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in EXRATES Bitcoin USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, EXRATES Bitcoin reported solid returns over the last few months and may actually be approaching a breakup point.
P2PB2B Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, P2PB2B Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

EXRATES Bitcoin and P2PB2B Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

EXRATES Bitcoin USD  vs.  P2PB2B Bitcoin USD

EXRATES

Bitcoin on EXRATES in USD

 7,306 
(61.25)  0.83%
Market Cap: 58.8 B
  

P2PB2B

Bitcoin on P2PB2B in USD

 7,959 
0.97  0.0122%
Market Cap: 5.2 B
(653.30)
8.94% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Bitcoin is expected to generate 1.6 times less return on investment than P2PB2B Bitcoin. But when comparing it to its historical volatility, EXRATES Bitcoin USD is 2.1 times less risky than P2PB2B Bitcoin. It trades about 0.36 of its potential returns per unit of risk. P2PB2B Bitcoin USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest  341,462  in P2PB2B Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  454,436  from holding P2PB2B Bitcoin USD or generate 133.09% return on investment over 30 days.

Pair Corralation between EXRATES Bitcoin and P2PB2B Bitcoin

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.5%
ValuesDaily Returns

Diversification Opportunities for EXRATES Bitcoin and P2PB2B Bitcoin

EXRATES Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding EXRATES Bitcoin USD and P2PB2B Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Bitcoin USD and EXRATES 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 EXRATES Bitcoin USD are associated (or correlated) with P2PB2B Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Bitcoin USD has no effect on the direction of EXRATES Bitcoin i.e. EXRATES Bitcoin and P2PB2B Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.


 
Search macroaxis.com