Correlation Analysis Between CoinDeal Bitcoin and bingcoins Bitcoin

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

Comparative Performance

CoinDeal Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days CoinDeal Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, CoinDeal Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
bingcoins Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days bingcoins Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, bingcoins Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.

CoinDeal Bitcoin and bingcoins Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

CoinDeal Bitcoin USD  vs.  bingcoins Bitcoin USD

CoinDeal

Bitcoin on CoinDeal in USD

 10,395 
358.21  3.57%
Market Cap: 29.4 B
  

bingcoins

Bitcoin on bingcoins in USD

 10,762 
543.00  5.31%
Market Cap: 9.7 B
(367.00)
3.53% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CoinDeal Bitcoin USD is expected to under-perform the bingcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, CoinDeal Bitcoin USD is 1.21 times less risky than bingcoins Bitcoin. The crypto trades about 0.0 of its potential returns per unit of risk. The bingcoins Bitcoin USD is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  1,142,400  in bingcoins Bitcoin USD on July 26, 2019 and sell it today you would lose (66,200)  from holding bingcoins Bitcoin USD or give up 5.79% of portfolio value over 30 days.

Pair Corralation between CoinDeal Bitcoin and bingcoins Bitcoin

0.18
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for CoinDeal Bitcoin and bingcoins Bitcoin

CoinDeal Bitcoin USD diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding CoinDeal Bitcoin USD and bingcoins Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on bingcoins Bitcoin USD and CoinDeal 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 CoinDeal Bitcoin USD are associated (or correlated) with bingcoins Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bingcoins Bitcoin USD has no effect on the direction of CoinDeal Bitcoin i.e. CoinDeal Bitcoin and bingcoins Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.


 
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