Correlation Analysis Between CoinDeal Bitcoin and Exmo Bitcoin

This module allows you to analyze existing cross correlation between CoinDeal Bitcoin USD and Exmo Bitcoin USD. You can compare the effects of market volatilities on CoinDeal 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 CoinDeal Bitcoin with a short position of Exmo Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of CoinDeal Bitcoin and Exmo 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 weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Exmo Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's essential indicators remain comparatively unchanging which may send shares a bit higher in September 2019. The late uproar may also be a sign of mid-term up-swing for the entity leadership.

CoinDeal Bitcoin and Exmo Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

CoinDeal Bitcoin USD  vs.  Exmo Bitcoin USD

CoinDeal

Bitcoin on CoinDeal in USD

 10,146 
109.21  1.09%
Market Cap: 29.4 B
  

Exmo

Bitcoin on Exmo in USD

 10,298 
(267.93)  2.54%
Market Cap: 813.2 M
(152.09)
1.50% 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 Exmo Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, CoinDeal Bitcoin USD is 1.02 times less risky than Exmo Bitcoin. The crypto trades about -0.06 of its potential returns per unit of risk. The Exmo Bitcoin USD is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  1,239,532  in Exmo Bitcoin USD on July 25, 2019 and sell it today you would lose (210,094)  from holding Exmo Bitcoin USD or give up 16.95% of portfolio value over 30 days.

Pair Corralation between CoinDeal Bitcoin and Exmo Bitcoin

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for CoinDeal Bitcoin and Exmo Bitcoin

CoinDeal Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding CoinDeal 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 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 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 CoinDeal Bitcoin i.e. CoinDeal Bitcoin and Exmo Bitcoin go up and down completely randomly.
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