This module allows you to analyze existing cross correlation between BTCAlpha Bitcoin USD and Exenium Bitcoin USD. You can compare the effects of market volatilities on BTCAlpha Bitcoin and Exenium 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 BTCAlpha Bitcoin with a short position of Exenium Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of BTCAlpha Bitcoin and Exenium Bitcoin.
|Horizon||30 Days Login to change|
|BTCAlpha Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in BTCAlpha Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, BTCAlpha Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
|Exenium Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in Exenium Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Exenium Bitcoin revealed solid returns over the last few months and may actually be approaching a breakup point.
BTCAlpha Bitcoin and Exenium Bitcoin Volatility Contrast
Predicted Return Density
BTCAlpha Bitcoin USD vs. Exenium Bitcoin USD
Assuming 30 trading days horizon, BTCAlpha Bitcoin USD is expected to generate 1.01 times more return on investment than Exenium Bitcoin. However, BTCAlpha Bitcoin is 1.01 times more volatile than Exenium Bitcoin USD. It trades about 0.05 of its potential returns per unit of risk. Exenium Bitcoin USD is currently generating about 0.04 per unit of risk. If you would invest 1,027,437 in BTCAlpha Bitcoin USD on July 21, 2019 and sell it today you would earn a total of 50,550 from holding BTCAlpha Bitcoin USD or generate 4.92% return on investment over 30 days.
Pair Corralation between BTCAlpha Bitcoin and Exenium Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for BTCAlpha Bitcoin and Exenium Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding BTCAlpha Bitcoin USD and Exenium Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exenium Bitcoin USD and BTCAlpha 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 BTCAlpha Bitcoin USD are associated (or correlated) with Exenium Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exenium Bitcoin USD has no effect on the direction of BTCAlpha Bitcoin i.e. BTCAlpha Bitcoin and Exenium Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.