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This module allows you to analyze existing cross correlation between Exmo Bitcoin USD and Bitfinex Bitcoin USD. You can compare the effects of market volatilities on Exmo Bitcoin and Bitfinex 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 Exmo Bitcoin with a short position of Bitfinex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Bitcoin and Bitfinex Bitcoin.
|Horizon||30 Days Login to change|
|Exmo Bitcoin USD|
Exmo Bitcoin and Bitfinex Bitcoin Volatility Contrast
Predicted Return Density
Exmo Bitcoin USD vs. Bitfinex Bitcoin USD
Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to under-perform the Bitfinex Bitcoin. In addition to that, Exmo Bitcoin is 1.09 times more volatile than Bitfinex Bitcoin USD. It trades about -0.07 of its total potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.06 per unit of volatility. If you would invest 451,970 in Bitfinex Bitcoin USD on December 21, 2018 and sell it today you would lose (75,160) from holding Bitfinex Bitcoin USD or give up 16.63% of portfolio value over 30 days.
Pair Corralation between Exmo Bitcoin and Bitfinex Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Exmo Bitcoin and Bitfinex Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Exmo Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and Exmo 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 Exmo Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of Exmo Bitcoin i.e. Exmo Bitcoin and Bitfinex Bitcoin go up and down completely randomly.