Correlation Analysis Between ExtStock Bitcoin and Exmo Bitcoin

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

ExtStock Bitcoin USD  
2424

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ExtStock Bitcoin USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, ExtStock Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Exmo Bitcoin USD  
2727

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Exmo Bitcoin unveiled solid returns over the last few months and may actually be approaching a breakup point.

ExtStock Bitcoin and Exmo Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

ExtStock Bitcoin USD  vs.  Exmo Bitcoin USD

ExtStock

Bitcoin on ExtStock in USD

 7,199 
(617.52)  7.90%
Market Cap: 11.5 B
  

Exmo

Bitcoin on Exmo in USD

 7,035 
(793.38)  10.13%
Market Cap: 26.3 B
 163.87 
2.28% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ExtStock Bitcoin USD is expected to generate 1.17 times more return on investment than Exmo Bitcoin. However, ExtStock Bitcoin is 1.17 times more volatile than Exmo Bitcoin USD. It trades about 0.37 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.4 per unit of risk. If you would invest  389,828  in ExtStock Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  391,783  from holding ExtStock Bitcoin USD or generate 100.5% return on investment over 30 days.

Pair Corralation between ExtStock Bitcoin and Exmo Bitcoin

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for ExtStock Bitcoin and Exmo Bitcoin

ExtStock Bitcoin USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding ExtStock Bitcoin USD and Exmo Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo Bitcoin USD and ExtStock 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 ExtStock Bitcoin USD are associated (or correlated) with Exmo Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Bitcoin USD has no effect on the direction of ExtStock Bitcoin i.e. ExtStock Bitcoin and Exmo Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.


 
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