Correlation Analysis Between Exmo Bitcoin and Bitfinex Bitcoin

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
Symbolsvs

Exmo Bitcoin USD  vs.  Bitfinex Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 6,663 
17.48  0.26%
Market Cap: 18 B
  

Bitfinex

Bitcoin on Bitfinex in USD

 6,742 
30.20  0.45%
Market Cap: 71.4 B
(79.58)
1.19% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin is expected to generate 1.47 times less return on investment than Bitfinex Bitcoin. But when comparing it to its historical volatility, Exmo Bitcoin USD is 1.51 times less risky than Bitfinex Bitcoin. It trades about 0.15 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  625,560  in Bitfinex Bitcoin USD on September 17, 2018 and sell it today you would earn a total of  48,650  from holding Bitfinex Bitcoin USD or generate 7.78% return on investment over 30 days.

Pair Corralation between Exmo Bitcoin and Bitfinex Bitcoin

0.89
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor 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.

Comparative Volatility

 Predicted Return Density 
      Returns 
Exmo Bitcoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Bitcoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1121.28

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