Correlation Analysis Between StocksExchange Bitcoin and P2PB2B Bitcoin

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

Comparative Performance

StocksExchange Bitcoin  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in StocksExchange Bitcoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, StocksExchange Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.
P2PB2B Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B 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.

StocksExchange Bitcoin and P2PB2B Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

StocksExchange Bitcoin USD  vs.  P2PB2B Bitcoin USD

StocksExchange

Bitcoin on StocksExchange in USD

 10,421 
(367.37)  3.41%
Market Cap: 3.9 M
  

P2PB2B

Bitcoin on P2PB2B in USD

 10,109 
(229.61)  2.22%
Market Cap: 1450.9 B
 311.50 
2.99% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, StocksExchange Bitcoin USD is expected to generate 3.9 times more return on investment than P2PB2B Bitcoin. However, StocksExchange Bitcoin is 3.9 times more volatile than P2PB2B Bitcoin USD. It trades about 0.07 of its potential returns per unit of risk. P2PB2B Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest  1,169,700  in StocksExchange Bitcoin USD on July 25, 2019 and sell it today you would lose (90,881)  from holding StocksExchange Bitcoin USD or give up 7.77% of portfolio value over 30 days.

Pair Corralation between StocksExchange Bitcoin and P2PB2B Bitcoin

0.11
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for StocksExchange Bitcoin and P2PB2B Bitcoin

StocksExchange Bitcoin USD diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding StocksExchange Bitcoin USD and P2PB2B Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Bitcoin USD and StocksExchange 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 StocksExchange Bitcoin USD are associated (or correlated) with P2PB2B Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Bitcoin USD has no effect on the direction of StocksExchange Bitcoin i.e. StocksExchange Bitcoin and P2PB2B Bitcoin go up and down completely randomly.
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