Pair Correlation Between Coinbase Bitcoin and Tidex Bitcoin

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

Coinbase

Bitcoin on Coinbase in USD
 10,810 
464.96  4.49%
Market Cap: 1973.9 B
(4,841)
44.79% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Tidex

Bitcoin on Tidex in USD
 15,651 
0.001045  0.00%
Market Cap: 83.3 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,565,110  in Tidex Bitcoin USD on December 23, 2017 and sell it today you would earn a total of  0.00  from holding Tidex Bitcoin USD or generate 0.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinbase Bitcoin and Tidex Bitcoin
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy3.23%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and Tidex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Tidex 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 Tidex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tidex Bitcoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Tidex Bitcoin go up and down completely randomly.

Comparative Volatility

Coinbase Bitcoin USD

  
0 

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.