Correlation Analysis Between Bitfinex Bitcoin and coinfield Bitcoin

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

Comparative Performance

Bitfinex Bitcoin USD  
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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 rather fragile fundamental drivers, Bitfinex Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.
coinfield Bitcoin USD  
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Risk-Adjusted Performance

Over the last 30 days coinfield Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, coinfield Bitcoin is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

Bitfinex Bitcoin and coinfield Bitcoin Volatility Contrast

Bitfinex Bitcoin USD  vs.  coinfield Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD

 10,051 
163.40  1.65%
Market Cap: 304.6 B
  

coinfield

Bitcoin on coinfield in USD

 9,946 
109.13  1.11%
Market Cap: 2.1 M
 104.95 
1.04% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  988,760  in Bitfinex Bitcoin USD on August 20, 2019 and sell it today you would earn a total of  16,340  from holding Bitfinex Bitcoin USD or generate 1.65% return on investment over 30 days.

Pair Corralation between Bitfinex Bitcoin and coinfield Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Bitcoin and coinfield Bitcoin

Bitfinex Bitcoin USD diversification synergy

Pay attention

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