Correlation Analysis Between Coinbase Bitcoin and Cexio Bitcoin

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

Coinbase Bitcoin USD  vs.  Cexio Bitcoin USD


Bitcoin on Coinbase in USD

10.30  0.16%
Market Cap: 51.6 B


Bitcoin on Cexio in USD

30.50  0.46%
Market Cap: 3.6 B
2.26% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the Cexio Bitcoin. In addition to that, Coinbase Bitcoin is 1.01 times more volatile than Cexio Bitcoin USD. It trades about 0.0 of its total potential returns per unit of risk. Cexio Bitcoin USD is currently generating about 0.06 per unit of volatility. If you would invest  640,980  in Cexio Bitcoin USD on September 19, 2018 and sell it today you would earn a total of  15,030  from holding Cexio Bitcoin USD or generate 2.34% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and Cexio Bitcoin

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 
Coinbase Bitcoin USD  

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.
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.

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