Correlation Analysis Between CoinHub Bitcoin and ExtStock Bitcoin

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

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 somewhat strong basic indicators, CoinHub Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
ExtStock Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days ExtStock Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, ExtStock Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

CoinHub Bitcoin and ExtStock Bitcoin Volatility Contrast

CoinHub Bitcoin USD  vs.  ExtStock Bitcoin USD

CoinHub

Bitcoin on CoinHub in USD

 10,007 
0.00  0.00%
Market Cap: 66.5 B
  

ExtStock

Bitcoin on ExtStock in USD

 9,907 
67.50  0.69%
Market Cap: 40.2 B
 99.78 
1.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  983,949  in ExtStock Bitcoin USD on August 23, 2019 and sell it today you would earn a total of  5,615  from holding ExtStock Bitcoin USD or generate 0.57% return on investment over 30 days.

Pair Corralation between CoinHub Bitcoin and ExtStock Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for CoinHub Bitcoin and ExtStock 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 ExtStock Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ExtStock 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 ExtStock Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ExtStock Bitcoin USD has no effect on the direction of CoinHub Bitcoin i.e. CoinHub Bitcoin and ExtStock Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.


 
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