Correlation Analysis Between Poloniex Bitcoin and Exmo Bitcoin

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

Poloniex Bitcoin USD  vs.  Exmo Bitcoin USD

Poloniex

Bitcoin on Poloniex in USD
 8,292 
35.22  0.43%
Market Cap: 38.7 B
  

Exmo

Bitcoin on Exmo in USD
 8,244 
4.96  0.06%
Market Cap: 24.7 B
 47.68 
0.57% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin USD is expected to under-perform the Exmo Bitcoin. In addition to that, Poloniex Bitcoin is 1.2 times more volatile than Exmo Bitcoin USD. It trades about -0.06 of its total potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.07 per unit of volatility. If you would invest  874,301  in Exmo Bitcoin USD on April 20, 2018 and sell it today you would lose (49,851)  from holding Exmo Bitcoin USD or give up 5.7% of portfolio value over 30 days.

Pair Corralation between Poloniex Bitcoin and Exmo Bitcoin

0.98
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.77%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex 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 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 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 Poloniex Bitcoin i.e. Poloniex Bitcoin and Exmo 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
Exmo Bitcoin USD  
0 

Risk-Adjusted Performance

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

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin

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