Correlation Analysis Between primexbt Bitcoin and Neraex Bitcoin

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

Comparative Performance

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 USD  
00

Risk-Adjusted Performance

Over the last 30 days Neraex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

primexbt Bitcoin and Neraex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

primexbt Bitcoin USD  vs.  Neraex Bitcoin USD

primexbt

Bitcoin on primexbt in USD

 10,406 
231.00  2.27%
Market Cap: 497 B
  

Neraex

Bitcoin on Neraex in USD

 10,588 
283.09  2.75%
Market Cap: 38 B
(181.89)
1.75% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, primexbt Bitcoin USD is expected to generate 22.01 times more return on investment than Neraex Bitcoin. However, primexbt Bitcoin is 22.01 times more volatile than Neraex Bitcoin USD. It trades about 0.13 of its potential returns per unit of risk. Neraex Bitcoin USD is currently generating about -0.02 per unit of risk. If you would invest  0.00  in primexbt Bitcoin USD on July 24, 2019 and sell it today you would earn a total of  1,043,500  from holding primexbt Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between primexbt Bitcoin and Neraex Bitcoin

0.34
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy73.77%
ValuesDaily Returns

Diversification Opportunities for primexbt Bitcoin and Neraex Bitcoin

primexbt Bitcoin USD diversification synergy

Weak diversification

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


 
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