This module allows you to analyze existing cross correlation between Exmo Bitcoin USD and CoinDeal Bitcoin USD. You can compare the effects of market volatilities on Exmo Bitcoin and CoinDeal 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 CoinDeal Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Bitcoin and CoinDeal Bitcoin.
|Horizon||30 Days Login to change|
|Exmo Bitcoin USD|
Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unchanging essential indicators, Exmo Bitcoin is not utilizing all of its potentials. The current stock price uproar, may contribute to short horizon losses for the leadership.
|CoinDeal Bitcoin USD|
Over the last 30 days CoinDeal Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
Exmo Bitcoin and CoinDeal Bitcoin Volatility Contrast
Predicted Return Density
Exmo Bitcoin USD vs. CoinDeal Bitcoin USD
Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to generate 1.04 times more return on investment than CoinDeal Bitcoin. However, Exmo Bitcoin is 1.04 times more volatile than CoinDeal Bitcoin USD. It trades about -0.01 of its potential returns per unit of risk. CoinDeal Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest 1,132,154 in Exmo Bitcoin USD on July 22, 2019 and sell it today you would lose (102,873) from holding Exmo Bitcoin USD or give up 9.09% of portfolio value over 30 days.
Pair Corralation between Exmo Bitcoin and CoinDeal Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Exmo Bitcoin and CoinDeal Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Exmo Bitcoin USD and CoinDeal Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CoinDeal 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 CoinDeal Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CoinDeal Bitcoin USD has no effect on the direction of Exmo Bitcoin i.e. Exmo Bitcoin and CoinDeal Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.