This module allows you to analyze existing cross correlation between Neraex Bitcoin USD and EXRATES Bitcoin USD. You can compare the effects of market volatilities on Neraex Bitcoin and EXRATES 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 EXRATES Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Neraex Bitcoin and EXRATES Bitcoin.
|Horizon||30 Days Login to change|
|Neraex Bitcoin USD|
Over the last 30 days Neraex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, Neraex Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
|EXRATES Bitcoin USD|
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 weak forward-looking signals, EXRATES Bitcoin reported solid returns over the last few months and may actually be approaching a breakup point.
Neraex Bitcoin and EXRATES Bitcoin Volatility Contrast
Neraex Bitcoin USD vs. EXRATES Bitcoin USD
Assuming 30 trading days horizon, Neraex Bitcoin USD is expected to generate 1.28 times more return on investment than EXRATES Bitcoin. However, Neraex Bitcoin is 1.28 times more volatile than EXRATES Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. EXRATES Bitcoin USD is currently generating about 0.48 per unit of risk. If you would invest 1,010,525 in Neraex Bitcoin USD on August 21, 2019 and sell it today you would earn a total of 31,573 from holding Neraex Bitcoin USD or generate 3.12% return on investment over 30 days.
Pair Corralation between Neraex Bitcoin and EXRATES Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for Neraex Bitcoin and EXRATES Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Neraex Bitcoin USD and EXRATES Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EXRATES 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 EXRATES Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXRATES Bitcoin USD has no effect on the direction of Neraex Bitcoin i.e. Neraex Bitcoin and EXRATES Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. drill down to check world indexes.