Correlation Analysis Between Cexio Bitcoin and Exmo Bitcoin

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

Comparative Performance

Cexio Bitcoin USD  
0

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.
Exmo Bitcoin USD  
0

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.

Cexio Bitcoin and Exmo Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Bitcoin USD  vs.  Exmo Bitcoin USD

Cexio

Bitcoin on Cexio in USD

 3,590 
(36.40)  0.01%
Market Cap: 2.5 B
  

Exmo

Bitcoin on Exmo in USD

 3,672 
(38.00)  0.01%
Market Cap: 5 B
(82.00)
2.28% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Bitcoin USD is expected to generate 0.82 times more return on investment than Exmo Bitcoin. However, Cexio Bitcoin USD is 1.22 times less risky than Exmo Bitcoin. It trades about 0.0 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.01 per unit of risk. If you would invest  374,560  in Cexio Bitcoin USD on December 24, 2018 and sell it today you would lose (13,130)  from holding Cexio Bitcoin USD or give up 3.51% of portfolio value over 30 days.

Pair Corralation between Cexio Bitcoin and Exmo Bitcoin

0.66
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy95.24%
ValuesDaily Returns

Diversification Opportunities for Cexio Bitcoin and Exmo 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 Exmo Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo 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 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 Cexio Bitcoin i.e. Cexio Bitcoin and Exmo Bitcoin go up and down completely randomly.

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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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