This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and Coinroom Bitcoin USD. You can compare the effects of market volatilities on Coinbase Bitcoin and Coinroom 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 Coinroom Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinbase Bitcoin
and Coinroom Bitcoin
Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin and Coinroom Bitcoin Volatility Contrast
Coinbase Bitcoin USD vs. Coinroom Bitcoin USD
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the Coinroom Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 2.19 times less risky than Coinroom Bitcoin. The crypto trades about -0.01 of its potential returns per unit of risk. The Coinroom Bitcoin USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 371,913 in Coinroom Bitcoin USD on December 24, 2018 and sell it today you would lose (8,184) from holding Coinroom Bitcoin USD or give up 2.2% of portfolio value over 30 days.
Pair Corralation between Coinbase Bitcoin and Coinroom Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Coinbase Bitcoin and Coinroom Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and Coinroom Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom 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 Coinroom Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom Bitcoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Coinroom Bitcoin go up and down completely randomly.
See also your portfolio center
. Please also try My Watchlist Analysis
module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.