Correlation Analysis Between Coinroom Bitcoin and Cexio Bitcoin

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

Comparative Performance

Coinroom Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Coinroom Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Cexio Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Coinroom Bitcoin and Cexio Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinroom Bitcoin USD  vs.  Cexio Bitcoin USD

Coinroom

Bitcoin on Coinroom in USD

 3,122 
(63.88)  2.01%
Market Cap: 1.9 B
  

Cexio

Bitcoin on Cexio in USD

 3,309 
39.10  1.20%
Market Cap: 1.5 B
(186.87)
5.99% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin USD is expected to generate 1.06 times more return on investment than Cexio Bitcoin. However, Coinroom Bitcoin is 1.06 times more volatile than Cexio Bitcoin USD. It trades about -0.32 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about -0.34 per unit of risk. If you would invest  660,031  in Coinroom Bitcoin USD on November 15, 2018 and sell it today you would lose (330,401)  from holding Coinroom Bitcoin USD or give up 50.06% of portfolio value over 30 days.

Pair Corralation between Coinroom Bitcoin and Cexio Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinroom Bitcoin and Cexio Bitcoin

Coinroom Bitcoin USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Coinroom Bitcoin USD and Cexio Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Bitcoin USD and Coinroom 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 Coinroom Bitcoin USD are associated (or correlated) with Cexio Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Bitcoin USD has no effect on the direction of Coinroom Bitcoin i.e. Coinroom Bitcoin and Cexio Bitcoin go up and down completely randomly.

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