Correlation Analysis Between Bitfinex Bitcoin and Coinsbit Bitcoin

This module allows you to analyze existing cross correlation between Bitfinex Bitcoin USD and Coinsbit Bitcoin USD. You can compare the effects of market volatilities on Bitfinex Bitcoin and Coinsbit 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 Coinsbit Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Bitcoin and Coinsbit 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 latest weak performance, the Crypto's fundamental drivers remain sound and the ongoing tumult on Wall Street may also be a sign of longer-term gains for the entity shareholders.
Coinsbit Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Coinsbit Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.

Bitfinex Bitcoin and Coinsbit Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Bitcoin USD  vs.  Coinsbit Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD

 10,163 
(248.00)  2.38%
Market Cap: 624.7 B
  

Coinsbit

Bitcoin on Coinsbit in USD

 10,243 
71.00  0.70%
Market Cap: 162.4 B
(80.00)
0.79% 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 Coinsbit Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Bitcoin USD is 1.15 times less risky than Coinsbit Bitcoin. The crypto trades about -0.02 of its potential returns per unit of risk. The Coinsbit Bitcoin USD is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  1,096,200  in Coinsbit Bitcoin USD on July 26, 2019 and sell it today you would lose (79,000)  from holding Coinsbit Bitcoin USD or give up 7.21% of portfolio value over 30 days.

Pair Corralation between Bitfinex Bitcoin and Coinsbit Bitcoin

0.88
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

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