Correlation Analysis Between Poloniex Bitcoin and Coinbase Bitcoin

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

Poloniex Bitcoin USD  vs.  Coinbase Bitcoin USD

Poloniex

Bitcoin on Poloniex in USD

 6,635 
46.60  0.71%
Market Cap: 1.1 B
  

Coinbase

Bitcoin on Coinbase in USD

 6,438 
4.69  0.07%
Market Cap: 51.6 B
 197.25 
2.97% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin USD is expected to generate 1.31 times more return on investment than Coinbase Bitcoin. However, Poloniex Bitcoin is 1.31 times more volatile than Coinbase Bitcoin USD. It trades about -0.01 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.09 per unit of risk. If you would invest  672,405  in Poloniex Bitcoin USD on September 21, 2018 and sell it today you would lose (8,865)  from holding Poloniex Bitcoin USD or give up 1.32% of portfolio value over 30 days.

Pair Corralation between Poloniex Bitcoin and Coinbase Bitcoin

0.7
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Bitcoin USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase 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 Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of Poloniex Bitcoin i.e. Poloniex Bitcoin and Coinbase Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Poloniex Bitcoin USD

Pair trading matchups for Poloniex Bitcoin

Coinbase Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

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GOOG - USA Stock
Alphabet
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