Correlation Analysis Between Coinbase Bitcoin and Poloniex Bitcoin

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

Coinbase Bitcoin USD  vs.  Poloniex Bitcoin USD


Bitcoin on Coinbase in USD

55.67  0.86%
Market Cap: 51.6 B


Bitcoin on Poloniex in USD

103.33  1.53%
Market Cap: 17.6 B
3.74% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 17.22 times less return on investment than Poloniex Bitcoin. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 1.2 times less risky than Poloniex Bitcoin. It trades about 0.0 of its potential returns per unit of risk. Poloniex Bitcoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  641,700  in Poloniex Bitcoin USD on September 18, 2018 and sell it today you would earn a total of  20,823  from holding Poloniex Bitcoin USD or generate 3.24% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and Poloniex 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 Poloniex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex 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 Poloniex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Bitcoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Poloniex 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.
Poloniex Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.