Correlation Analysis Between Coinbase Bitcoin and Exmo Bitcoin

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

Coinbase Bitcoin USD  vs.  Exmo Bitcoin USD

Coinbase

Bitcoin on Coinbase in USD
 7,427 
86.08  1.17%
Market Cap: 715.7 B
  

Exmo

Bitcoin on Exmo in USD
 7,399 
77.48  1.06%
Market Cap: 9.5 B
 27.60 
0.37% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 1.2 times more return on investment than Exmo Bitcoin. However, Coinbase Bitcoin is 1.2 times more volatile than Exmo Bitcoin USD. It trades about 0.11 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.12 per unit of risk. If you would invest  673,048  in Coinbase Bitcoin USD on June 19, 2018 and sell it today you would earn a total of  71,151  from holding Coinbase Bitcoin USD or generate 10.57% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and Exmo Bitcoin

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Exmo Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1187.39

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