Correlation Analysis Between primexbt Bitcoin and Bitforex Bitcoin

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

Comparative Performance

primexbt Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days primexbt Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, primexbt Bitcoin may actually be approaching a critical reversion point that can send shares even higher in October 2019.
Bitforex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Bitcoin is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

primexbt Bitcoin and Bitforex Bitcoin Volatility Contrast

primexbt Bitcoin USD  vs.  Bitforex Bitcoin USD

primexbt

Bitcoin on primexbt in USD

 9,994 
37.10  0.37%
Market Cap: 27.1 B
  

Bitforex

Bitcoin on Bitforex in USD

 9,916 
0.00  0.00%
Market Cap: 23.2 M
 77.98 
0.78% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  995,710  in primexbt Bitcoin USD on August 23, 2019 and sell it today you would earn a total of  3,390  from holding primexbt Bitcoin USD or generate 0.34% return on investment over 30 days.

Pair Corralation between primexbt Bitcoin and Bitforex Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for primexbt Bitcoin and Bitforex Bitcoin

primexbt Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding primexbt Bitcoin USD and Bitforex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitforex Bitcoin USD and primexbt 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 primexbt Bitcoin USD are associated (or correlated) with Bitforex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitforex Bitcoin USD has no effect on the direction of primexbt Bitcoin i.e. primexbt Bitcoin and Bitforex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.


 
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