Correlation Analysis Between Exmo Bitcoin and Bitstamp Bitcoin

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

Exmo Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Exmo Bitcoin unveiled solid returns over the last few months and may actually be approaching a breakup point.
Bitstamp Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Bitstamp Bitcoin revealed solid returns over the last few months and may actually be approaching a breakup point.

Exmo Bitcoin and Bitstamp Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo Bitcoin USD  vs.  Bitstamp Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 10,566 
144.88  1.39%
Market Cap: 19.2 B
  

Bitstamp

Bitcoin on Bitstamp in USD

 10,411 
177.12  1.73%
Market Cap: 420.7 B
 154.97 
1.47% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to generate 0.93 times more return on investment than Bitstamp Bitcoin. However, Exmo Bitcoin USD is 1.07 times less risky than Bitstamp Bitcoin. It trades about 0.07 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about 0.06 per unit of risk. If you would invest  948,699  in Exmo Bitcoin USD on July 19, 2019 and sell it today you would earn a total of  107,910  from holding Exmo Bitcoin USD or generate 11.37% return on investment over 30 days.

Pair Corralation between Exmo Bitcoin and Bitstamp Bitcoin

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Bitcoin and Bitstamp Bitcoin

Exmo Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exmo 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 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 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 Exmo Bitcoin i.e. Exmo Bitcoin and Bitstamp Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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