Correlation Analysis Between Poloniex Bitcoin and Cexio Bitcoin

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

Poloniex Bitcoin USD  vs.  Cexio Bitcoin USD

Poloniex

Bitcoin on Poloniex in USD

 6,772 
42.90  0.64%
Market Cap: 1.1 B
  

Cexio

Bitcoin on Cexio in USD

 6,747 
24.40  0.36%
Market Cap: 35.3 B
 24.94 
0.37% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin is expected to generate 1.2 times less return on investment than Cexio Bitcoin. But when comparing it to its historical volatility, Poloniex Bitcoin USD is 1.13 times less risky than Cexio Bitcoin. It trades about 0.06 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  653,410  in Cexio Bitcoin USD on August 22, 2018 and sell it today you would earn a total of  24,740  from holding Cexio Bitcoin USD or generate 3.79% return on investment over 30 days.

Pair Corralation between Poloniex Bitcoin and Cexio Bitcoin

0.95
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex 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 Poloniex 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 Poloniex 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 Poloniex Bitcoin i.e. Poloniex Bitcoin and Cexio Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Cexio Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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