Correlation Analysis Between Liquid Bitcoin and Cexio Bitcoin

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

Comparative Performance

Liquid Bitcoin USD  
2222

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Liquid Bitcoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Liquid Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Cexio Bitcoin USD  
2323

Risk-Adjusted Performance

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. Despite somewhat weak basic indicators, Cexio Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

Liquid Bitcoin and Cexio Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  Cexio Bitcoin USD

Liquid

Bitcoin on Liquid in USD

 7,294 
(81.79)  1.11%
Market Cap: 34.7 B
  

Cexio

Bitcoin on Cexio in USD

 7,380 
(521.20)  6.60%
Market Cap: 7.1 B
(86.82)
1.19% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin is expected to generate 1.08 times less return on investment than Cexio Bitcoin. But when comparing it to its historical volatility, Liquid Bitcoin USD is 1.02 times less risky than Cexio Bitcoin. It trades about 0.33 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about 0.35 of returns per unit of risk over similar time horizon. If you would invest  395,500  in Cexio Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  394,660  from holding Cexio Bitcoin USD or generate 99.79% return on investment over 30 days.

Pair Corralation between Liquid Bitcoin and Cexio Bitcoin

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.56%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and Cexio Bitcoin

Liquid Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Liquid 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 Liquid 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 Liquid 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 Liquid Bitcoin i.e. Liquid Bitcoin and Cexio Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.


 
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