Correlation Analysis Between OKCoin Bitcoin and EXRATES Bitcoin

This module allows you to analyze existing cross correlation between OKCoin Bitcoin USD and EXRATES Bitcoin USD. You can compare the effects of market volatilities on OKCoin 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 OKCoin Bitcoin with a short position of EXRATES Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of OKCoin Bitcoin and EXRATES 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.
EXRATES Bitcoin USD  
00

Risk-Adjusted Performance

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 latest weak performance, the Crypto's forward-looking signals remain invariable and the latest agitation on Wall Street may also be a sign of long running gains for the entity management.

OKCoin Bitcoin and EXRATES Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

OKCoin Bitcoin USD  vs.  EXRATES Bitcoin USD

OKCoin

Bitcoin on OKCoin in USD

 10,228 
72.10  0.71%
Market Cap: 51.9 B
  

EXRATES

Bitcoin on EXRATES in USD

 10,320 
140.68  1.38%
Market Cap: 1332.8 B
(91.71)
0.90% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Bitcoin USD is expected to generate 1.0 times more return on investment than EXRATES Bitcoin. However, OKCoin Bitcoin is 1.0 times more volatile than EXRATES Bitcoin USD. It trades about -0.01 of its potential returns per unit of risk. EXRATES Bitcoin USD is currently generating about -0.02 per unit of risk. If you would invest  1,116,053  in OKCoin Bitcoin USD on July 26, 2019 and sell it today you would lose (93,226)  from holding OKCoin Bitcoin USD or give up 8.35% of portfolio value over 30 days.

Pair Corralation between OKCoin Bitcoin and EXRATES Bitcoin

0.45
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy95.45%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and EXRATES Bitcoin

OKCoin Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding OKCoin 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 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 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 OKCoin Bitcoin i.e. OKCoin Bitcoin and EXRATES Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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