This module allows you to analyze existing cross correlation between ExtStock Bitcoin USD and Coinbase Bitcoin USD. You can compare the effects of market volatilities on ExtStock 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 ExtStock Bitcoin with a short position of Coinbase Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of ExtStock Bitcoin and Coinbase Bitcoin.
|Horizon||30 Days Login to change|
|ExtStock Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in ExtStock Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, ExtStock Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
|Coinbase Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, Coinbase Bitcoin reported solid returns over the last few months and may actually be approaching a breakup point.
ExtStock Bitcoin and Coinbase Bitcoin Volatility Contrast
Predicted Return Density
ExtStock Bitcoin USD vs. Coinbase Bitcoin USD
Assuming 30 trading days horizon, ExtStock Bitcoin USD is expected to generate 1.01 times more return on investment than Coinbase Bitcoin. However, ExtStock Bitcoin is 1.01 times more volatile than Coinbase Bitcoin USD. It trades about 0.06 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.06 per unit of risk. If you would invest 917,332 in ExtStock Bitcoin USD on July 19, 2019 and sell it today you would earn a total of 85,839 from holding ExtStock Bitcoin USD or generate 9.36% return on investment over 30 days.
Pair Corralation between ExtStock Bitcoin and Coinbase Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for ExtStock Bitcoin and Coinbase Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding ExtStock 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 ExtStock 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 ExtStock 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 ExtStock Bitcoin i.e. ExtStock 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.