This module allows you to analyze existing cross correlation between Exmo Bitcoin USD and Neraex Bitcoin USD. You can compare the effects of market volatilities on Exmo Bitcoin and Neraex 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 Neraex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Bitcoin and Neraex Bitcoin.
|Horizon||30 Days Login to change|
|Exmo Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Exmo Bitcoin unveiled solid returns over the last few months and may actually be approaching a breakup point.
|Neraex Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in Neraex Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Neraex Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Exmo Bitcoin and Neraex Bitcoin Volatility Contrast
Predicted Return Density
Exmo Bitcoin USD vs. Neraex Bitcoin USD
Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to generate 0.92 times more return on investment than Neraex Bitcoin. However, Exmo Bitcoin USD is 1.09 times less risky than Neraex Bitcoin. It trades about 0.06 of its potential returns per unit of risk. Neraex Bitcoin USD is currently generating about 0.05 per unit of risk. If you would invest 996,155 in Exmo Bitcoin USD on July 20, 2019 and sell it today you would earn a total of 83,845 from holding Exmo Bitcoin USD or generate 8.42% return on investment over 30 days.
Pair Corralation between Exmo Bitcoin and Neraex Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Exmo Bitcoin and Neraex Bitcoin
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Exmo Bitcoin USD and Neraex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Neraex 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 Neraex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neraex Bitcoin USD has no effect on the direction of Exmo Bitcoin i.e. Exmo Bitcoin and Neraex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.