Correlation Analysis Between Neraex Bitcoin and primexbt Bitcoin

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

Neraex Bitcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Neraex Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Neraex Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
primexbt Bitcoin USD  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in primexbt Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, primexbt Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

Neraex Bitcoin and primexbt Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Neraex Bitcoin USD  vs.  primexbt Bitcoin USD

Neraex

Bitcoin on Neraex in USD

 10,883 
304.46  2.88%
Market Cap: 38 B
  

primexbt

Bitcoin on primexbt in USD

 10,698 
323.00  3.11%
Market Cap: 497 B
 185.20 
1.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Neraex Bitcoin is expected to generate 49.78 times less return on investment than primexbt Bitcoin. But when comparing it to its historical volatility, Neraex Bitcoin USD is 20.53 times less risky than primexbt Bitcoin. It trades about 0.05 of its potential returns per unit of risk. primexbt Bitcoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  0.00  in primexbt Bitcoin USD on July 20, 2019 and sell it today you would earn a total of  1,037,500  from holding primexbt Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between Neraex Bitcoin and primexbt Bitcoin

0.01
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy73.33%
ValuesDaily Returns

Diversification Opportunities for Neraex Bitcoin and primexbt Bitcoin

Neraex Bitcoin USD diversification synergy

Significant diversification

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


 
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