Correlation Analysis Between ExtStock Bitcoin and Exmo Bitcoin

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

Comparative Performance

ExtStock Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days ExtStock Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Exmo Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest fragile performance, the Crypto's essential indicators remain unchanging and the late uproar on Wall Street may also be a sign of mid-term gains for the entity leadership.

ExtStock Bitcoin and Exmo Bitcoin Volatility Contrast

ExtStock Bitcoin USD  vs.  Exmo Bitcoin USD

ExtStock

Bitcoin on ExtStock in USD

 9,945 
(60.10)  0.60%
Market Cap: 40.2 B
  

Exmo

Bitcoin on Exmo in USD

 10,226 
(29.21)  0.28%
Market Cap: 42 B
(281.34)
2.83% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ExtStock Bitcoin USD is expected to under-perform the Exmo Bitcoin. In addition to that, ExtStock Bitcoin is 2.11 times more volatile than Exmo Bitcoin USD. It trades about -0.71 of its total potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.71 per unit of volatility. If you would invest  1,025,523  in Exmo Bitcoin USD on August 22, 2019 and sell it today you would lose (2,921)  from holding Exmo Bitcoin USD or give up 0.28% of portfolio value over 30 days.

Pair Corralation between ExtStock Bitcoin and Exmo Bitcoin

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

Diversification Opportunities for ExtStock Bitcoin and Exmo Bitcoin

ExtStock Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding ExtStock Bitcoin USD and Exmo Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo 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 Exmo Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Bitcoin USD has no effect on the direction of ExtStock Bitcoin i.e. ExtStock Bitcoin and Exmo Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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