Correlation Analysis Between EXRATES Bitcoin and Coinbase Bitcoin

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

Comparative Performance

EXRATES Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, EXRATES Bitcoin is not utilizing all of its potentials. The prevalent stock price agitation, may contribute to short term losses for the management.
Coinbase Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of latest fragile performance, the Crypto's forward-looking signals remain invariable and the latest agitation on Wall Street may also be a sign of long running gains for the entity management.

EXRATES Bitcoin and Coinbase Bitcoin Volatility Contrast

EXRATES Bitcoin USD  vs.  Coinbase Bitcoin USD

EXRATES

Bitcoin on EXRATES in USD

 10,020 
(97.77)  0.97%
Market Cap: 667.9 B
  

Coinbase

Bitcoin on Coinbase in USD

 9,987 
(112.52)  1.11%
Market Cap: 1386.9 B
 32.59 
0.33% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Bitcoin USD is expected to generate 0.72 times more return on investment than Coinbase Bitcoin. However, EXRATES Bitcoin USD is 1.39 times less risky than Coinbase Bitcoin. It trades about -0.71 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest  1,011,783  in EXRATES Bitcoin USD on August 22, 2019 and sell it today you would lose (1,969)  from holding EXRATES Bitcoin USD or give up 0.19% of portfolio value over 30 days.

Pair Corralation between EXRATES Bitcoin and Coinbase Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for EXRATES Bitcoin and Coinbase Bitcoin

EXRATES Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding EXRATES 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 EXRATES 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 EXRATES 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 EXRATES Bitcoin i.e. EXRATES Bitcoin and Coinbase Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.


 
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