Correlation Analysis Between Exmo Bitcoin and Coinroom Bitcoin

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

Exmo Bitcoin USD  vs.  Coinroom Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 6,418 
131.90  2.01%
Market Cap: 3.3 B
  

Coinroom

Bitcoin on Coinroom in USD

 6,352 
189.20  2.89%
Market Cap: 1.2 B
 66.50 
1.04% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin is expected to generate 3.07 times less return on investment than Coinroom Bitcoin. But when comparing it to its historical volatility, Exmo Bitcoin USD is 1.42 times less risky than Coinroom Bitcoin. It trades about 0.02 of its potential returns per unit of risk. Coinroom Bitcoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  646,242  in Coinroom Bitcoin USD on August 22, 2018 and sell it today you would earn a total of  7,838  from holding Coinroom Bitcoin USD or generate 1.21% return on investment over 30 days.

Pair Corralation between Exmo Bitcoin and Coinroom Bitcoin

0.95
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Exmo Bitcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Coinroom Bitcoin USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

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Alphabet
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ExchangeNASDAQ
$1161.22

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