Correlation Analysis Between BitBay Bitcoin and Poloniex Bitcoin

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

BitBay Bitcoin USD  vs.  Poloniex Bitcoin USD

BitBay

Bitcoin on BitBay in USD
 7,370 
113.00  1.56%
Market Cap: 238.7 K
  

Poloniex

Bitcoin on Poloniex in USD
 7,531 
116.02  1.56%
Market Cap: 35.4 B
(161.37)
2.19% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitBay Bitcoin is expected to generate 1.15 times less return on investment than Poloniex Bitcoin. But when comparing it to its historical volatility, BitBay Bitcoin USD is 1.28 times less risky than Poloniex Bitcoin. It trades about 0.25 of its potential returns per unit of risk. Poloniex Bitcoin USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  613,957  in Poloniex Bitcoin USD on June 22, 2018 and sell it today you would earn a total of  131,323  from holding Poloniex Bitcoin USD or generate 21.39% return on investment over 30 days.

Pair Corralation between BitBay Bitcoin and Poloniex Bitcoin

0.95
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitBay Bitcoin USD and Poloniex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Bitcoin USD and BitBay 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 BitBay Bitcoin USD are associated (or correlated) with Poloniex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Bitcoin USD has no effect on the direction of BitBay Bitcoin i.e. BitBay Bitcoin and Poloniex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
BitBay Bitcoin USD  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitBay Bitcoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

BitBay Bitcoin USD

Pair trading matchups for BitBay Bitcoin
Poloniex Bitcoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Poloniex Bitcoin USD

Pair trading matchups for Poloniex Bitcoin

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.


 
vendors/bower_components/jquery.easy-pie-chart/dist/jquery.easypiechart.min.js">