Correlation Analysis Between P2PB2B Bitcoin and Coinsbit Bitcoin

This module allows you to analyze existing cross correlation between P2PB2B Bitcoin USD and Coinsbit Bitcoin USD. You can compare the effects of market volatilities on P2PB2B Bitcoin and Coinsbit 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 P2PB2B Bitcoin with a short position of Coinsbit Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of P2PB2B Bitcoin and Coinsbit Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

P2PB2B Bitcoin USD  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in P2PB2B Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, P2PB2B Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Coinsbit Bitcoin USD  
33

Risk-Adjusted Performance

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

P2PB2B Bitcoin and Coinsbit Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

P2PB2B Bitcoin USD  vs.  Coinsbit Bitcoin USD

P2PB2B

Bitcoin on P2PB2B in USD

 10,692 
306.09  2.95%
Market Cap: 1856.3 B
  

Coinsbit

Bitcoin on Coinsbit in USD

 10,740 
365.00  3.52%
Market Cap: 135.4 B
(48.14)
0.45% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, P2PB2B Bitcoin is expected to generate 1.67 times less return on investment than Coinsbit Bitcoin. But when comparing it to its historical volatility, P2PB2B Bitcoin USD is 1.22 times less risky than Coinsbit Bitcoin. It trades about 0.04 of its potential returns per unit of risk. Coinsbit Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  990,000  in Coinsbit Bitcoin USD on July 20, 2019 and sell it today you would earn a total of  78,000  from holding Coinsbit Bitcoin USD or generate 7.88% return on investment over 30 days.

Pair Corralation between P2PB2B Bitcoin and Coinsbit Bitcoin

0.75
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for P2PB2B Bitcoin and Coinsbit Bitcoin

P2PB2B Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding P2PB2B Bitcoin USD and Coinsbit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinsbit Bitcoin USD and P2PB2B 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 P2PB2B Bitcoin USD are associated (or correlated) with Coinsbit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinsbit Bitcoin USD has no effect on the direction of P2PB2B Bitcoin i.e. P2PB2B Bitcoin and Coinsbit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.


 
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