Correlation Analysis Between coinfield Bitcoin and primexbt Bitcoin

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

Comparative Performance

coinfield Bitcoin USD  

Risk-Adjusted Performance

Over the last 30 days coinfield 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 fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
primexbt Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in primexbt Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, primexbt Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

coinfield Bitcoin and primexbt Bitcoin Volatility Contrast

 Predicted Return Density 

coinfield Bitcoin USD  vs.  primexbt Bitcoin USD


Bitcoin on coinfield in USD

(198.51)  1.97%
Market Cap: 14.8 B


Bitcoin on primexbt in USD

(199.90)  1.98%
Market Cap: 497 B
0.29% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, coinfield Bitcoin USD is expected to under-perform the primexbt Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, coinfield Bitcoin USD is 21.29 times less risky than primexbt Bitcoin. The crypto trades about -0.04 of its potential returns per unit of risk. The primexbt Bitcoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  0.00  in primexbt Bitcoin USD on July 22, 2019 and sell it today you would earn a total of  989,110  from holding primexbt Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between coinfield Bitcoin and primexbt Bitcoin

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for coinfield Bitcoin and primexbt Bitcoin

coinfield Bitcoin USD diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding coinfield Bitcoin USD and primexbt Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on primexbt Bitcoin USD and coinfield 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 coinfield Bitcoin USD are associated (or correlated) with primexbt Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of primexbt Bitcoin USD has no effect on the direction of coinfield Bitcoin i.e. coinfield Bitcoin and primexbt Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.