Correlation Analysis Between Bitfinex Monero and Exmo Monero

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

Bitfinex Monero USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
Exmo Monero USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in September 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.

Bitfinex Monero and Exmo Monero Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Monero USD  vs.  Exmo Monero USD

Bitfinex

Monero on Bitfinex in USD

 81.90 
(3.17)  3.73%
Market Cap: 25.4 M
  

Exmo

Monero on Exmo in USD

 83.18 
0.72  0.87%
Market Cap: 4.4 M
(1.28)
1.56% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Monero USD is expected to under-perform the Exmo Monero. In addition to that, Bitfinex Monero is 1.01 times more volatile than Exmo Monero USD. It trades about -0.1 of its total potential returns per unit of risk. Exmo Monero USD is currently generating about -0.09 per unit of volatility. If you would invest  10,893  in Exmo Monero USD on July 22, 2019 and sell it today you would lose (2,647)  from holding Exmo Monero USD or give up 24.3% of portfolio value over 30 days.

Pair Corralation between Bitfinex Monero and Exmo Monero

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Monero and Exmo Monero

Bitfinex Monero USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Monero USD and Exmo Monero USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo Monero USD and Bitfinex Monero 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 Monero USD are associated (or correlated) with Exmo Monero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Monero USD has no effect on the direction of Bitfinex Monero i.e. Bitfinex Monero and Exmo Monero go up and down completely randomly.
See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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