Correlation Analysis Between Coinbase Bitcoin and OKCoin Bitcoin

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

Comparative Performance

Coinbase Bitcoin USD  
00

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. In defiance of latest fragile performance, the Crypto's forward-looking signals remain invariable and the latest agitation on Wall Street may also be a sign of long running gains for the entity management.
OKCoin Bitcoin USD  
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Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

Coinbase Bitcoin and OKCoin Bitcoin Volatility Contrast

Coinbase Bitcoin USD  vs.  OKCoin Bitcoin USD

Coinbase

Bitcoin on Coinbase in USD

 9,987 
(112.52)  1.11%
Market Cap: 1386.9 B
  

OKCoin

Bitcoin on OKCoin in USD

 9,983 
(116.72)  1.16%
Market Cap: 29.2 B
 4.37 
0.043755% 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 OKCoin Bitcoin. In addition to that, Coinbase Bitcoin is 1.01 times more volatile than OKCoin Bitcoin USD. It trades about -0.71 of its total potential returns per unit of risk. OKCoin Bitcoin USD is currently generating about -0.71 per unit of volatility. If you would invest  1,009,982  in OKCoin Bitcoin USD on August 22, 2019 and sell it today you would lose (2,693)  from holding OKCoin Bitcoin USD or give up 0.27% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and OKCoin Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinbase Bitcoin and OKCoin Bitcoin

Coinbase Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and OKCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin 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 OKCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Bitcoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and OKCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.


 
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