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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Poloniex Bitcoin USD  vs.  Coinbase Bitcoin USD

Poloniex

Bitcoin on Poloniex in USD
 7,509 
93.63  1.26%
Market Cap: 35.4 B
  

Coinbase

Bitcoin on Coinbase in USD
 7,510 
46.15  0.62%
Market Cap: 715.7 B
(1.17)
0.015581% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin USD is expected to generate 0.97 times more return on investment than Coinbase Bitcoin. However, Poloniex Bitcoin USD is 1.03 times less risky than Coinbase Bitcoin. It trades about 0.22 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.22 per unit of risk. If you would invest  613,957  in Poloniex Bitcoin USD on June 22, 2018 and sell it today you would earn a total of  131,323  from holding Poloniex Bitcoin USD or generate 21.39% return on investment over 30 days.

Pair Corralation between Poloniex Bitcoin and Coinbase Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Poloniex Bitcoin USD

Pair trading matchups for Poloniex Bitcoin
Coinbase Bitcoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
vendors/bower_components/jquery.easy-pie-chart/dist/jquery.easypiechart.min.js">