Correlation Analysis Between Bitfinex Bitcoin and Bitstamp Bitcoin

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

Bitfinex Bitcoin USD  vs.  Bitstamp Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD
 7,438 
32.40  0.43%
Market Cap: 578.2 B
  

Bitstamp

Bitcoin on Bitstamp in USD
 7,395 
15.00  0.20%
Market Cap: 360.8 B
 43.51 
0.58% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 0.99 times more return on investment than Bitstamp Bitcoin. However, Bitfinex Bitcoin USD is 1.01 times less risky than Bitstamp Bitcoin. It trades about 0.21 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about 0.2 per unit of risk. If you would invest  614,750  in Bitfinex Bitcoin USD on June 22, 2018 and sell it today you would earn a total of  124,520  from holding Bitfinex Bitcoin USD or generate 20.26% return on investment over 30 days.

Pair Corralation between Bitfinex Bitcoin and Bitstamp Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Bitcoin USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin
Bitstamp Bitcoin USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Bitstamp Bitcoin USD

Pair trading matchups for Bitstamp Bitcoin

My Equities

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

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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
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