Correlation Analysis Between Threexbit Bitcoin and Cexio Bitcoin

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

Comparative Performance

Threexbit Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Threexbit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Cexio Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Cexio Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Threexbit Bitcoin and Cexio Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Threexbit Bitcoin USD  vs.  Cexio Bitcoin USD

Threexbit

Bitcoin on Threexbit in USD

 10,108 
(226.65)  2.19%
Market Cap: 263.1 K
  

Cexio

Bitcoin on Cexio in USD

 10,058 
(303.40)  2.93%
Market Cap: 12.7 B
 50.26 
0.50% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Threexbit Bitcoin USD is expected to generate 0.99 times more return on investment than Cexio Bitcoin. However, Threexbit Bitcoin USD is 1.01 times less risky than Cexio Bitcoin. It trades about -0.07 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about -0.07 per unit of risk. If you would invest  1,267,000  in Threexbit Bitcoin USD on July 25, 2019 and sell it today you would lose (256,214)  from holding Threexbit Bitcoin USD or give up 20.22% of portfolio value over 30 days.

Pair Corralation between Threexbit Bitcoin and Cexio Bitcoin

0.17
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy93.18%
ValuesDaily Returns

Diversification Opportunities for Threexbit Bitcoin and Cexio Bitcoin

Threexbit Bitcoin USD diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Threexbit Bitcoin USD and Cexio Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Bitcoin USD and Threexbit 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 Threexbit Bitcoin USD are associated (or correlated) with Cexio Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Bitcoin USD has no effect on the direction of Threexbit Bitcoin i.e. Threexbit Bitcoin and Cexio Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.


 
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