Correlation Analysis Between bingcoins Bitcoin and EXRATES Bitcoin

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

Comparative Performance

bingcoins Bitcoin USD  

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.

Risk-Adjusted Performance

Over the last 30 days EXRATES Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of latest weak performance, the Crypto's forward-looking signals remain invariable and the latest agitation on Wall Street may also be a sign of long running gains for the entity management.

bingcoins Bitcoin and EXRATES Bitcoin Volatility Contrast

 Predicted Return Density 

bingcoins Bitcoin USD  vs.  EXRATES Bitcoin USD


Bitcoin on bingcoins in USD

15.29  0.15%
Market Cap: 7.7 B


Bitcoin on EXRATES in USD

(45.28)  0.44%
Market Cap: 1332.8 B
2.21% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, bingcoins Bitcoin USD is expected to generate 26.28 times more return on investment than EXRATES Bitcoin. However, bingcoins Bitcoin is 26.28 times more volatile than EXRATES Bitcoin USD. It trades about 0.15 of its potential returns per unit of risk. EXRATES Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest  0.00  in bingcoins Bitcoin USD on July 22, 2019 and sell it today you would earn a total of  1,047,400  from holding bingcoins Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between bingcoins Bitcoin and EXRATES Bitcoin

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for bingcoins Bitcoin and EXRATES Bitcoin

bingcoins Bitcoin USD diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding bingcoins Bitcoin USD and EXRATES Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EXRATES 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 EXRATES Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXRATES Bitcoin USD has no effect on the direction of bingcoins Bitcoin i.e. bingcoins Bitcoin and EXRATES Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.