Pair Correlation Between Bitfinex Bitcoin and Coinroom Bitcoin

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

Bitfinex Bitcoin USD  vs.  Coinroom Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD
 8,780 
66.00  0.75%
Market Cap: 1738.7 B
  

Coinroom

Bitcoin on Coinroom in USD
 8,920 
168.32  1.85%
Market Cap: 14.5 B
(140.18)
1.60% 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 Coinroom Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Bitcoin USD is 1.19 times less risky than Coinroom Bitcoin. The crypto trades about -0.04 of its potential returns per unit of risk. The Coinroom Bitcoin USD is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  1,040,234  in Coinroom Bitcoin USD on March 22, 2018 and sell it today you would lose (156,587)  from holding Coinroom Bitcoin USD or give up 15.05% of portfolio value over 30 days.

Pair Corralation between Bitfinex Bitcoin and Coinroom Bitcoin

0.93
Time Period2 Months [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 Bitfinex Bitcoin USD and Coinroom Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom 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 Coinroom Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom Bitcoin USD has no effect on the direction of Bitfinex Bitcoin i.e. Bitfinex Bitcoin and Coinroom Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
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.

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin
Coinroom Bitcoin USD  
0 

Risk-Adjusted Performance

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

Coinroom Bitcoin USD

Pair trading matchups for Coinroom 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
$1072.96

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 Financial Widgets module to easily integrated macroaxis content with over 30 different plug-and-play financial widgets.