Correlation Analysis Between Bitstamp Bitcoin and bingcoins Bitcoin

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

Comparative Performance

Bitstamp Bitcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Bitstamp Bitcoin revealed solid returns over the last few months and may actually be approaching a breakup point.
bingcoins Bitcoin USD  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in bingcoins Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, bingcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.

Bitstamp Bitcoin and bingcoins Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitstamp Bitcoin USD  vs.  bingcoins Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 10,704 
344.03  3.32%
Market Cap: 337.9 B
  

bingcoins

Bitcoin on bingcoins in USD

 10,907 
295.00  2.78%
Market Cap: 7.7 B
(203.00)
1.90% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin is expected to generate 63.71 times less return on investment than bingcoins Bitcoin. But when comparing it to its historical volatility, Bitstamp Bitcoin USD is 24.2 times less risky than bingcoins Bitcoin. It trades about 0.06 of its potential returns per unit of risk. bingcoins Bitcoin USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  0.00  in bingcoins Bitcoin USD on July 20, 2019 and sell it today you would earn a total of  1,033,600  from holding bingcoins Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and bingcoins Bitcoin

0.3
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitstamp Bitcoin and bingcoins Bitcoin

Bitstamp Bitcoin USD diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp Bitcoin USD and bingcoins Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on bingcoins Bitcoin USD and Bitstamp 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 Bitstamp Bitcoin USD are associated (or correlated) with bingcoins Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bingcoins Bitcoin USD has no effect on the direction of Bitstamp Bitcoin i.e. Bitstamp Bitcoin and bingcoins Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.


 
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