Correlation Analysis Between Binance Bitcoin and OKCoin Bitcoin

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

Comparative Performance

Binance Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Binance Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Binance Bitcoin is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
OKCoin Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, OKCoin Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

Binance Bitcoin and OKCoin Bitcoin Volatility Contrast

Binance Bitcoin USD  vs.  OKCoin Bitcoin USD

Binance

Bitcoin on Binance in USD

 9,775 
0.00  0.00%
Market Cap: 9.5 M
  

OKCoin

Bitcoin on OKCoin in USD

 10,191 
14.47  0.14%
Market Cap: 29.2 B
(415.83)
4.25% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  986,151  in OKCoin Bitcoin USD on August 21, 2019 and sell it today you would earn a total of  31,503  from holding OKCoin Bitcoin USD or generate 3.19% return on investment over 30 days.

Pair Corralation between Binance Bitcoin and OKCoin Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Binance Bitcoin and OKCoin Bitcoin

Binance Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Binance Bitcoin USD and OKCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin Bitcoin USD and Binance 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 Binance Bitcoin USD are associated (or correlated) with OKCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Bitcoin USD has no effect on the direction of Binance Bitcoin i.e. Binance Bitcoin and OKCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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