Correlation Analysis Between bingcoins Bitcoin and Bitfinex Bitcoin

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

Comparative Performance

bingcoins Bitcoin USD  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in bingcoins Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, bingcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
Bitfinex Bitcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, Bitfinex Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.

bingcoins Bitcoin and Bitfinex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

bingcoins Bitcoin USD  vs.  Bitfinex Bitcoin USD

bingcoins

Bitcoin on bingcoins in USD

 11,131 
519.00  4.89%
Market Cap: 7.7 B
  

Bitfinex

Bitcoin on Bitfinex in USD

 10,708 
335.90  3.24%
Market Cap: 1774.3 B
 423.00 
3.80% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, bingcoins Bitcoin USD is expected to generate 24.95 times more return on investment than Bitfinex Bitcoin. However, bingcoins Bitcoin is 24.95 times more volatile than Bitfinex Bitcoin USD. It trades about 0.15 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about 0.06 per unit of risk. If you would invest  0.00  in bingcoins Bitcoin USD on July 20, 2019 and sell it today you would earn a total of  1,113,100  from holding bingcoins Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between bingcoins Bitcoin and Bitfinex Bitcoin

0.31
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for bingcoins Bitcoin and Bitfinex Bitcoin

bingcoins Bitcoin USD diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding bingcoins Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and bingcoins 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 bingcoins Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of bingcoins Bitcoin i.e. bingcoins Bitcoin and Bitfinex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.


 
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