Correlation Analysis Between Coinsbit Bitcoin and Bitstamp Bitcoin

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

Comparative Performance

Coinsbit Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Coinsbit Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
Bitstamp Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest weak performance, the Crypto's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the entity stakeholders.

Coinsbit Bitcoin and Bitstamp Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Bitcoin USD  vs.  Bitstamp Bitcoin USD

Coinsbit

Bitcoin on Coinsbit in USD

 10,465 
371.96  3.69%
Market Cap: 162.4 B
  

Bitstamp

Bitcoin on Bitstamp in USD

 10,802 
899.81  9.09%
Market Cap: 337.9 B
(336.62)
3.22% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Bitcoin USD is expected to generate 1.11 times more return on investment than Bitstamp Bitcoin. However, Coinsbit Bitcoin is 1.11 times more volatile than Bitstamp Bitcoin USD. It trades about 0.0 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest  1,171,291  in Coinsbit Bitcoin USD on July 23, 2019 and sell it today you would lose (124,795)  from holding Coinsbit Bitcoin USD or give up 10.65% of portfolio value over 30 days.

Pair Corralation between Coinsbit Bitcoin and Bitstamp Bitcoin

0.66
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Bitcoin and Bitstamp Bitcoin

Coinsbit Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinsbit Bitcoin USD and Bitstamp Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp Bitcoin USD and Coinsbit 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 Coinsbit Bitcoin USD are associated (or correlated) with Bitstamp Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Bitcoin USD has no effect on the direction of Coinsbit Bitcoin i.e. Coinsbit Bitcoin and Bitstamp Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.


 
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