Correlation Analysis Between Coinsbit Bitcoin and P2PB2B Bitcoin

This module allows you to analyze existing cross correlation between Coinsbit Bitcoin USD and P2PB2B Bitcoin USD. You can compare the effects of market volatilities on Coinsbit Bitcoin and P2PB2B 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 P2PB2B Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinsbit Bitcoin and P2PB2B Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Coinsbit Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinsbit Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, Coinsbit Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
P2PB2B Bitcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in P2PB2B Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, P2PB2B Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

Coinsbit Bitcoin and P2PB2B Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Bitcoin USD  vs.  P2PB2B Bitcoin USD

Coinsbit

Bitcoin on Coinsbit in USD

 10,788 
533.00  5.20%
Market Cap: 135.4 B
  

P2PB2B

Bitcoin on P2PB2B in USD

 10,805 
607.75  5.96%
Market Cap: 1856.3 B
(17.17)
0.16% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Bitcoin USD is expected to generate 1.24 times more return on investment than P2PB2B Bitcoin. However, Coinsbit Bitcoin is 1.24 times more volatile than P2PB2B Bitcoin USD. It trades about 0.06 of its potential returns per unit of risk. P2PB2B Bitcoin USD is currently generating about 0.05 per unit of risk. If you would invest  990,000  in Coinsbit Bitcoin USD on July 20, 2019 and sell it today you would earn a total of  80,400  from holding Coinsbit Bitcoin USD or generate 8.12% return on investment over 30 days.

Pair Corralation between Coinsbit Bitcoin and P2PB2B Bitcoin

0.75
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Bitcoin and P2PB2B 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 P2PB2B Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B 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 P2PB2B Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Bitcoin USD has no effect on the direction of Coinsbit Bitcoin i.e. Coinsbit Bitcoin and P2PB2B Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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