Correlation Analysis Between Bitfinex Bitcoin and Exmo Bitcoin

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

Bitfinex Bitcoin USD  vs.  Exmo Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD
 7,403 
135.80  1.87%
Market Cap: 288.1 B
  

Exmo

Bitcoin on Exmo in USD
 7,417 
76.73  1.05%
Market Cap: 9.5 B
(13.82)
0.19% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 1.18 times more return on investment than Exmo Bitcoin. However, Bitfinex Bitcoin is 1.18 times more volatile than Exmo Bitcoin USD. It trades about 0.22 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.22 per unit of risk. If you would invest  601,950  in Bitfinex Bitcoin USD on June 21, 2018 and sell it today you would earn a total of  133,140  from holding Bitfinex Bitcoin USD or generate 22.12% return on investment over 30 days.

Pair Corralation between Bitfinex Bitcoin and Exmo Bitcoin

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Bitcoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin
Exmo Bitcoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.


 
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