Correlation Analysis Between Exmo Bitcoin and coinfield Bitcoin

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

Comparative Performance

Exmo Bitcoin USD  
00

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. 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.
coinfield Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Exmo Bitcoin and coinfield Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo Bitcoin USD  vs.  coinfield Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 10,367 
(198.81)  1.88%
Market Cap: 813.2 M
  

coinfield

Bitcoin on coinfield in USD

 10,120 
(277.94)  2.67%
Market Cap: 14.8 B
 247.21 
2.38% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to generate 0.92 times more return on investment than coinfield Bitcoin. However, Exmo Bitcoin USD is 1.09 times less risky than coinfield Bitcoin. It trades about -0.01 of its potential returns per unit of risk. coinfield Bitcoin USD is currently generating about -0.07 per unit of risk. If you would invest  1,110,000  in Exmo Bitcoin USD on July 26, 2019 and sell it today you would lose (77,466)  from holding Exmo Bitcoin USD or give up 6.98% of portfolio value over 30 days.

Pair Corralation between Exmo Bitcoin and coinfield Bitcoin

0.86
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Bitcoin and coinfield Bitcoin

Exmo Bitcoin USD diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Bitcoin USD and coinfield Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield 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 coinfield Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield Bitcoin USD has no effect on the direction of Exmo Bitcoin i.e. Exmo Bitcoin and coinfield Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.


 
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