Correlation Analysis Between Coinsbit Bitcoin and Neraex Bitcoin

This module allows you to analyze existing cross correlation between Coinsbit Bitcoin USD and Neraex Bitcoin USD. You can compare the effects of market volatilities on Coinsbit Bitcoin and Neraex 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 Neraex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinsbit Bitcoin and Neraex 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 weak fundamental indicators, Coinsbit Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
Neraex Bitcoin USD  
00

Risk-Adjusted Performance

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

Coinsbit Bitcoin and Neraex Bitcoin Volatility Contrast

Coinsbit Bitcoin USD  vs.  Neraex Bitcoin USD

Coinsbit

Bitcoin on Coinsbit in USD

 9,929 
0.00  0.00%
Market Cap: 597 B
  

Neraex

Bitcoin on Neraex in USD

 10,210 
58.67  0.58%
Market Cap: 11.7 B
(280.80)
2.83% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Bitcoin USD is expected to generate 2.16 times more return on investment than Neraex Bitcoin. However, Coinsbit Bitcoin is 2.16 times more volatile than Neraex Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. Neraex Bitcoin USD is currently generating about 0.71 per unit of risk. If you would invest  992,940  in Coinsbit Bitcoin USD on August 23, 2019 and sell it today you would earn a total of  12,373  from holding Coinsbit Bitcoin USD or generate 1.25% return on investment over 30 days.

Pair Corralation between Coinsbit Bitcoin and Neraex Bitcoin

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

Diversification Opportunities for Coinsbit Bitcoin and Neraex Bitcoin

Coinsbit Bitcoin USD diversification synergy

Pay attention

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