Correlation Analysis Between BTCAlpha Bitcoin and OKCoin Bitcoin

This module allows you to analyze existing cross correlation between BTCAlpha Bitcoin USD and OKCoin Bitcoin USD. You can compare the effects of market volatilities on BTCAlpha Bitcoin and OKCoin 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 OKCoin Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of BTCAlpha Bitcoin and OKCoin 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 nearly stable fundamental indicators, BTCAlpha Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
OKCoin Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

BTCAlpha Bitcoin and OKCoin Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

BTCAlpha Bitcoin USD  vs.  OKCoin Bitcoin USD

BTCAlpha

Bitcoin on BTCAlpha in USD

 10,385 
213.42  2.10%
Market Cap: 45.9 B
  

OKCoin

Bitcoin on OKCoin in USD

 10,431 
257.09  2.53%
Market Cap: 51.9 B
(46.08)
0.44% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BTCAlpha Bitcoin USD is expected to generate 1.0 times more return on investment than OKCoin Bitcoin. However, BTCAlpha Bitcoin is 1.0 times more volatile than OKCoin Bitcoin USD. It trades about -0.01 of its potential returns per unit of risk. OKCoin Bitcoin USD is currently generating about -0.02 per unit of risk. If you would invest  1,164,641  in BTCAlpha Bitcoin USD on July 24, 2019 and sell it today you would lose (126,129)  from holding BTCAlpha Bitcoin USD or give up 10.83% of portfolio value over 30 days.

Pair Corralation between BTCAlpha Bitcoin and OKCoin Bitcoin

0.94
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for BTCAlpha Bitcoin and OKCoin 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 OKCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin 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 OKCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Bitcoin USD has no effect on the direction of BTCAlpha Bitcoin i.e. BTCAlpha Bitcoin and OKCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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