Correlation Analysis Between Bitforex Bitcoin and Coinsbit Bitcoin

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

Comparative Performance

Bitforex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Bitcoin is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the 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 weak fundamental indicators, Coinsbit Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.

Bitforex Bitcoin and Coinsbit Bitcoin Volatility Contrast

Bitforex Bitcoin USD  vs.  Coinsbit Bitcoin USD

Bitforex

Bitcoin on Bitforex in USD

 9,916 
0.00  0.00%
Market Cap: 23.2 M
  

Coinsbit

Bitcoin on Coinsbit in USD

 10,131 
201.40  2.03%
Market Cap: 597 B
(214.58)
2.16% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  992,940  in Coinsbit Bitcoin USD on August 23, 2019 and sell it today you would earn a total of  12,373  from holding Coinsbit Bitcoin USD or generate 1.25% return on investment over 30 days.

Pair Corralation between Bitforex Bitcoin and Coinsbit Bitcoin

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

Diversification Opportunities for Bitforex Bitcoin and Coinsbit Bitcoin

Bitforex Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitforex 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 Bitforex 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 Bitforex 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 Bitforex Bitcoin i.e. Bitforex Bitcoin and Coinsbit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.


 
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