Correlation Analysis Between Bitfinex Bitcoin and Cexio Bitcoin

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

Comparative Performance

Bitfinex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
Cexio Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Cexio Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Bitfinex Bitcoin and Cexio Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Bitcoin USD  vs.  Cexio Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD

 10,080 
(284.60)  2.75%
Market Cap: 624.7 B
  

Cexio

Bitcoin on Cexio in USD

 10,085 
(275.90)  2.66%
Market Cap: 12.7 B
(5.10)
0.05% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 1.01 times more return on investment than Cexio Bitcoin. However, Bitfinex Bitcoin is 1.01 times more volatile than Cexio Bitcoin USD. It trades about -0.06 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about -0.07 per unit of risk. If you would invest  1,267,100  in Bitfinex Bitcoin USD on July 25, 2019 and sell it today you would lose (259,843)  from holding Bitfinex Bitcoin USD or give up 20.51% of portfolio value over 30 days.

Pair Corralation between Bitfinex Bitcoin and Cexio Bitcoin

0.57
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Bitcoin and Cexio Bitcoin

Bitfinex Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Bitcoin USD and Cexio Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio 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 Cexio Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Bitcoin USD has no effect on the direction of Bitfinex Bitcoin i.e. Bitfinex Bitcoin and Cexio Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.


 
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