Correlation Analysis Between Cexio Bitcoin and Bitstamp Bitcoin

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

Comparative Performance

Cexio Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Cexio 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 basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Bitstamp Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest weak performance, the Crypto's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the entity stakeholders.

Cexio Bitcoin and Bitstamp Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Bitcoin USD  vs.  Bitstamp Bitcoin USD

Cexio

Bitcoin on Cexio in USD

 10,812 
902.10  9.10%
Market Cap: 19.8 B
  

Bitstamp

Bitcoin on Bitstamp in USD

 10,802 
899.81  9.09%
Market Cap: 337.9 B
 10.32 
0.1% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Bitcoin USD is expected to under-perform the Bitstamp Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Bitcoin USD is 1.04 times less risky than Bitstamp Bitcoin. The crypto trades about -0.04 of its potential returns per unit of risk. The Bitstamp Bitcoin USD is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest  1,167,095  in Bitstamp Bitcoin USD on July 23, 2019 and sell it today you would lose (176,918)  from holding Bitstamp Bitcoin USD or give up 15.16% of portfolio value over 30 days.

Pair Corralation between Cexio Bitcoin and Bitstamp Bitcoin

0.74
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Cexio Bitcoin and Bitstamp 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 Bitstamp Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp 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 Bitstamp Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Bitcoin USD has no effect on the direction of Cexio Bitcoin i.e. Cexio Bitcoin and Bitstamp Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
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