Correlation Analysis Between Neraex Bitcoin and bingcoins Bitcoin

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

Comparative Performance

Neraex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Neraex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
bingcoins Bitcoin USD  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in bingcoins Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, bingcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.

Neraex Bitcoin and bingcoins Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Neraex Bitcoin USD  vs.  bingcoins Bitcoin USD

Neraex

Bitcoin on Neraex in USD

 10,542 
259.12  2.52%
Market Cap: 4.2 M
  

bingcoins

Bitcoin on bingcoins in USD

 10,196 
(660.00)  6.08%
Market Cap: 7.7 B
 345.71 
3.28% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Neraex Bitcoin USD is expected to under-perform the bingcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Neraex Bitcoin USD is 25.61 times less risky than bingcoins Bitcoin. The crypto trades about -0.02 of its potential returns per unit of risk. The bingcoins Bitcoin USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  0.00  in bingcoins Bitcoin USD on July 24, 2019 and sell it today you would earn a total of  1,016,400  from holding bingcoins Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between Neraex Bitcoin and bingcoins Bitcoin

-0.05
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Neraex Bitcoin and bingcoins Bitcoin

Neraex Bitcoin USD diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Neraex Bitcoin USD and bingcoins Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on bingcoins Bitcoin USD and Neraex 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 Neraex Bitcoin USD are associated (or correlated) with bingcoins Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bingcoins Bitcoin USD has no effect on the direction of Neraex Bitcoin i.e. Neraex Bitcoin and bingcoins Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .


 
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