Pair Correlation Between Tidex Bitcoin and Coinbase Bitcoin

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

Tidex

Bitcoin on Tidex in USD
 16,768 
0.003971  0.00%
Market Cap: 101.4 K
(2,631)
15.69% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Coinbase

Bitcoin on Coinbase in USD
 19,399 
(251.01)  1.28%
Market Cap: 7461.7 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  771,399  in Coinbase Bitcoin USD on November 16, 2017 and sell it today you would earn a total of  1,170,851  from holding Coinbase Bitcoin USD or generate 151.78% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Bitcoin and Coinbase Bitcoin
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.45%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Coinbase Bitcoin USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.