Correlation Analysis Between EXRATES Bitcoin and StocksExchange Bitcoin

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

Comparative Performance


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 fragile performance in the last few months, the Crypto's forward-looking signals remain relatively invariable which may send shares a bit higher in September 2019. The latest agitation may also be a sign of long running up-swing for the entity management.
StocksExchange Bitcoin  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in StocksExchange Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In spite of rather fragile fundamental drivers, StocksExchange Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.

EXRATES Bitcoin and StocksExchange Bitcoin Volatility Contrast

 Predicted Return Density 

EXRATES Bitcoin USD  vs.  StocksExchange Bitcoin USD


Bitcoin on EXRATES in USD

(218.61)  2.11%
Market Cap: 1332.8 B


Bitcoin on StocksExchange in USD

243.16  2.32%
Market Cap: 3.9 M
5.64% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Bitcoin USD is expected to under-perform the StocksExchange Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, EXRATES Bitcoin USD is 3.86 times less risky than StocksExchange Bitcoin. The crypto trades about -0.05 of its potential returns per unit of risk. The StocksExchange Bitcoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  1,215,667  in StocksExchange Bitcoin USD on July 27, 2019 and sell it today you would lose (168,429)  from holding StocksExchange Bitcoin USD or give up 13.85% of portfolio value over 30 days.

Pair Corralation between EXRATES Bitcoin and StocksExchange Bitcoin

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for EXRATES Bitcoin and StocksExchange Bitcoin

EXRATES Bitcoin USD diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding EXRATES Bitcoin USD and StocksExchange Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on StocksExchange Bitcoin 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 StocksExchange Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of StocksExchange Bitcoin has no effect on the direction of EXRATES Bitcoin i.e. EXRATES Bitcoin and StocksExchange Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.