Correlation Analysis Between Cexio Bitcoin and Bitfinex Bitcoin

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

Comparative Performance

Cexio Bitcoin USD  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Cexio Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Bitfinex Bitcoin USD  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, Bitfinex Bitcoin may actually be approaching a critical reversion point that can send shares even higher in September 2019.

Cexio Bitcoin and Bitfinex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Bitcoin USD  vs.  Bitfinex Bitcoin USD

Cexio

Bitcoin on Cexio in USD

 10,725 
(86.90)  0.80%
Market Cap: 19.8 B
  

Bitfinex

Bitcoin on Bitfinex in USD

 10,803 
453.00  4.38%
Market Cap: 1774.3 B
(78.00)
0.73% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Bitcoin USD is expected to generate 1.0 times more return on investment than Bitfinex Bitcoin. However, Cexio Bitcoin is 1.0 times more volatile than Bitfinex Bitcoin USD. It trades about 0.04 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about 0.02 per unit of risk. If you would invest  1,057,780  in Cexio Bitcoin USD on July 21, 2019 and sell it today you would earn a total of  23,410  from holding Cexio Bitcoin USD or generate 2.21% return on investment over 30 days.

Pair Corralation between Cexio Bitcoin and Bitfinex Bitcoin

0.77
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Cexio Bitcoin and Bitfinex Bitcoin

Cexio Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Cexio Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and Cexio 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 Cexio Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of Cexio Bitcoin i.e. Cexio Bitcoin and Bitfinex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.


 
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