Correlation Analysis Between Cexio Bitcoin and BitTrex Bitcoin

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

Comparative Performance

Cexio Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
BitTrex Bitcoin USD  

Risk-Adjusted Performance

Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Cexio Bitcoin and BitTrex Bitcoin Volatility Contrast

 Predicted Return Density 

Cexio Bitcoin USD  vs.  BitTrex Bitcoin USD


Bitcoin on Cexio in USD

48.20  1.37%
Market Cap: 1.5 B


Bitcoin on BitTrex in USD

68.09  1.95%
Market Cap: 5.8 B
0.15% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Cexio Bitcoin USD is expected to generate 1.52 times more return on investment than BitTrex Bitcoin. However, Cexio Bitcoin is 1.52 times more volatile than BitTrex Bitcoin USD. It trades about 0.05 of its potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about -0.31 per unit of risk. If you would invest  354,380  in Cexio Bitcoin USD on November 18, 2018 and sell it today you would lose (5,120)  from holding Cexio Bitcoin USD or give up 1.44% of portfolio value over 30 days.

Pair Corralation between Cexio Bitcoin and BitTrex Bitcoin

Time Period2 Months [change]
StrengthVery Strong
ValuesDaily Returns

Diversification Opportunities for Cexio Bitcoin and BitTrex Bitcoin

Cexio Bitcoin USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Cexio Bitcoin USD and BitTrex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex 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 BitTrex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Bitcoin USD has no effect on the direction of Cexio Bitcoin i.e. Cexio Bitcoin and BitTrex Bitcoin go up and down completely randomly.

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See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.