Correlation Analysis Between Exmo Bitcoin and Coinbase Bitcoin

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

Exmo Bitcoin USD  vs.  Coinbase Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 6,453 
246.99  3.69%
Market Cap: 18 B
  

Coinbase

Bitcoin on Coinbase in USD

 6,196 
238.04  3.70%
Market Cap: 51.6 B
 257.00 
3.98% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to generate 0.75 times more return on investment than Coinbase Bitcoin. However, Exmo Bitcoin USD is 1.33 times less risky than Coinbase Bitcoin. It trades about 0.16 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.07 per unit of risk. If you would invest  633,790  in Exmo Bitcoin USD on September 17, 2018 and sell it today you would earn a total of  36,209  from holding Exmo Bitcoin USD or generate 5.71% return on investment over 30 days.

Pair Corralation between Exmo Bitcoin and Coinbase Bitcoin

0.77
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Exmo Bitcoin USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1110.08

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