Correlation Analysis Between OKCoin Bitcoin and coinfield Bitcoin

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

Comparative Performance

OKCoin Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, OKCoin Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
coinfield Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Crypto's fundamental drivers remain sound and the ongoing tumult on Wall Street may also be a sign of longer-term gains for the entity shareholders.

OKCoin Bitcoin and coinfield Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

OKCoin Bitcoin USD  vs.  coinfield Bitcoin USD

OKCoin

Bitcoin on OKCoin in USD

 10,431 
257.09  2.53%
Market Cap: 51.9 B
  

coinfield

Bitcoin on coinfield in USD

 10,371 
288.83  2.86%
Market Cap: 14.8 B
 59.98 
0.58% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Bitcoin USD is expected to generate 0.99 times more return on investment than coinfield Bitcoin. However, OKCoin Bitcoin USD is 1.01 times less risky than coinfield Bitcoin. It trades about -0.01 of its potential returns per unit of risk. coinfield Bitcoin USD is currently generating about -0.02 per unit of risk. If you would invest  1,167,984  in OKCoin Bitcoin USD on July 24, 2019 and sell it today you would lose (124,864)  from holding OKCoin Bitcoin USD or give up 10.69% of portfolio value over 30 days.

Pair Corralation between OKCoin Bitcoin and coinfield Bitcoin

0.79
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and coinfield Bitcoin

OKCoin Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding OKCoin Bitcoin USD and coinfield Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield Bitcoin USD and OKCoin 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 OKCoin Bitcoin USD are associated (or correlated) with coinfield Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield Bitcoin USD has no effect on the direction of OKCoin Bitcoin i.e. OKCoin Bitcoin and coinfield Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.


 
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