Correlation Analysis Between CoinHub Bitcoin and coinfield Bitcoin

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

CoinHub Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days CoinHub Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
coinfield Bitcoin USD  
00

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 fragile performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

CoinHub Bitcoin and coinfield Bitcoin Volatility Contrast

CoinHub Bitcoin USD  vs.  coinfield Bitcoin USD

CoinHub

Bitcoin on CoinHub in USD

 10,008 
(137.98)  1.36%
Market Cap: 66.5 B
  

coinfield

Bitcoin on coinfield in USD

 9,992 
(94.62)  0.94%
Market Cap: 2.1 M
 15.96 
0.16% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CoinHub Bitcoin USD is expected to under-perform the coinfield Bitcoin. In addition to that, CoinHub Bitcoin is 1.45 times more volatile than coinfield Bitcoin USD. It trades about -0.71 of its total potential returns per unit of risk. coinfield Bitcoin USD is currently generating about -0.71 per unit of volatility. If you would invest  1,008,661  in coinfield Bitcoin USD on August 22, 2019 and sell it today you would lose (9,462)  from holding coinfield Bitcoin USD or give up 0.94% of portfolio value over 30 days.

Pair Corralation between CoinHub Bitcoin and coinfield Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for CoinHub Bitcoin and coinfield Bitcoin

CoinHub Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding CoinHub Bitcoin USD and coinfield Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield Bitcoin USD and CoinHub 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 CoinHub Bitcoin USD are associated (or correlated) with coinfield Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield Bitcoin USD has no effect on the direction of CoinHub Bitcoin i.e. CoinHub Bitcoin and coinfield Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.


 
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