Correlation Analysis Between Coinbase Bitcoin and Bitfinex Bitcoin

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

Coinbase Bitcoin USD  vs.  Bitfinex Bitcoin USD

Coinbase

Bitcoin on Coinbase in USD

 6,430 
3.46  0.05%
Market Cap: 51.6 B
  

Bitfinex

Bitcoin on Bitfinex in USD

 6,612 
22.00  0.33%
Market Cap: 71.4 B
(182.00)
2.83% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the Bitfinex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 1.2 times less risky than Bitfinex Bitcoin. The crypto trades about -0.09 of its potential returns per unit of risk. The Bitfinex Bitcoin USD is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  673,010  in Bitfinex Bitcoin USD on September 21, 2018 and sell it today you would lose (11,810)  from holding Bitfinex Bitcoin USD or give up 1.75% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and Bitfinex Bitcoin

0.77
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase 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 Coinbase 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 Coinbase 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 Coinbase Bitcoin i.e. Coinbase Bitcoin and Bitfinex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
0 

Risk-Adjusted Performance

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

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

Bitfinex Bitcoin USD  
0 

Risk-Adjusted Performance

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

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
Alphabet cannot be verified against its exchange. It appears that Alphabet is not available for investing at this time. Please verify the symbol is currently traded on NASDAQ. If you still believe the symbol you are trying to look up is valid please let us know and we will check it as soon as possible.

Try Other Suggestions

GTVJXGoldman Sachs Target Date 2030Fund
GTVMXGoldman Sachs Target Date 2040Fund
GTVOXGoldman Sachs Target Date 2035Fund
GTVSXGoldman Sachs Target Date 2050Fund
FPPXXGovernment Obligations Fund ClFund
ELKMFGold Road Resources LimitedStock
GCGAXGoldman Sachs Concentrated GroFund

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.


 
Search macroaxis.com