Correlation Analysis Between Bitfinex Bitcoin and Coinbase Bitcoin

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

Comparative Performance

Bitfinex Bitcoin USD  
0

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.
Coinbase Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Bitfinex Bitcoin and Coinbase Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Bitcoin USD  vs.  Coinbase Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD

 3,700 
54.40  0.01%
Market Cap: 106 B
  

Coinbase

Bitcoin on Coinbase in USD

 3,619 
(52.07)  0.01%
Market Cap: 72.7 B
 80.97 
2.19% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to under-perform the Coinbase Bitcoin. In addition to that, Bitfinex Bitcoin is 1.09 times more volatile than Coinbase Bitcoin USD. It trades about -0.12 of its total potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.13 per unit of volatility. If you would invest  478,757  in Coinbase Bitcoin USD on December 18, 2018 and sell it today you would lose (116,864)  from holding Coinbase Bitcoin USD or give up 24.41% of portfolio value over 30 days.

Pair Corralation between Bitfinex Bitcoin and Coinbase Bitcoin

0.87
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy95.35%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Bitcoin and Coinbase Bitcoin

Bitfinex Bitcoin USD diversification synergy

Very poor diversification

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

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  

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.


 
Search macroaxis.com