Correlation Analysis Between BTCAlpha Bitcoin and Exmo Bitcoin

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

Comparative Performance

BTCAlpha Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
Exmo Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unchanging essential indicators, Exmo Bitcoin is not utilizing all of its potentials. The current stock price uproar, may contribute to short horizon losses for the leadership.

BTCAlpha Bitcoin and Exmo Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

BTCAlpha Bitcoin USD  vs.  Exmo Bitcoin USD

BTCAlpha

Bitcoin on BTCAlpha in USD

 10,126 
0.45  0.0044%
Market Cap: 45.9 B
  

Exmo

Bitcoin on Exmo in USD

 10,367 
(198.81)  1.88%
Market Cap: 813.2 M
(241.37)
2.38% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BTCAlpha Bitcoin USD is expected to under-perform the Exmo Bitcoin. In addition to that, BTCAlpha Bitcoin is 1.08 times more volatile than Exmo Bitcoin USD. It trades about -0.07 of its total potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.01 per unit of volatility. If you would invest  1,110,000  in Exmo Bitcoin USD on July 26, 2019 and sell it today you would lose (77,466)  from holding Exmo Bitcoin USD or give up 6.98% of portfolio value over 30 days.

Pair Corralation between BTCAlpha Bitcoin and Exmo Bitcoin

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for BTCAlpha Bitcoin and Exmo Bitcoin

BTCAlpha Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BTCAlpha 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 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 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 BTCAlpha Bitcoin i.e. BTCAlpha Bitcoin and Exmo Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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