Pair Correlation 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 |
| Symbols | vs |
Coinbase Bitcoin USD vs. Exmo Bitcoin USD
CoinbaseBitcoin on Coinbase in USD 8,850
| ExmoBitcoin on Exmo in USD 8,822
|
Pair Volatility
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 1.15 times more return on investment than Exmo Bitcoin. However, Coinbase Bitcoin is 1.15 times more volatile than Exmo Bitcoin USD. It trades about -0.02 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.04 per unit of risk. If you would invest 994,989 in Coinbase Bitcoin USD on March 23, 2018 and sell it today you would lose (110,689) from holding Coinbase Bitcoin USD or give up 11.12% of portfolio value over 30 days.
Pair Corralation between Coinbase Bitcoin and Exmo Bitcoin
0.98
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Almost no diversification
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
| Coinbase Bitcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver 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
| Exmo Bitcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Exmo Bitcoin USD
Pair trading matchups for Exmo Bitcoin
My Equities
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Thematic Opportunities
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See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.