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.
 Time Horizon     30 Days    Login   to change

Exmo Bitcoin USD  vs.  Coinbase Bitcoin USD


Bitcoin on Exmo in USD
22.36  0.31%
Market Cap: 9.5 B


Bitcoin on Coinbase in USD
11.82  0.16%
Market Cap: 139.3 B
1.45% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to under-perform the Coinbase Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Exmo Bitcoin USD is 1.26 times less risky than Coinbase Bitcoin. The crypto trades about -0.01 of its potential returns per unit of risk. The Coinbase Bitcoin USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  671,472  in Coinbase Bitcoin USD on June 17, 2018 and sell it today you would earn a total of  329.00  from holding Coinbase Bitcoin USD or generate 0.05% return on investment over 30 days.

Pair Corralation between Exmo Bitcoin and Coinbase Bitcoin

Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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 
Exmo Bitcoin USD  

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Coinbase Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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