Correlation Analysis Between Threexbit Bitcoin and StocksExchange Bitcoin

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

Comparative Performance

Threexbit Bitcoin USD  

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.
StocksExchange Bitcoin  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in StocksExchange Bitcoin USD are ranked lower than 4 (%) 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.

Threexbit Bitcoin and StocksExchange Bitcoin Volatility Contrast

 Predicted Return Density 

Threexbit Bitcoin USD  vs.  StocksExchange Bitcoin USD


Bitcoin on Threexbit in USD

10.66  0.11%
Market Cap: 263.1 K


Bitcoin on StocksExchange in USD

(368.34)  3.44%
Market Cap: 3.9 M
2.23% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Threexbit Bitcoin USD is expected to under-perform the StocksExchange Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Threexbit Bitcoin USD is 3.72 times less risky than StocksExchange Bitcoin. The crypto trades about -0.06 of its potential returns per unit of risk. The StocksExchange Bitcoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  1,169,700  in StocksExchange Bitcoin USD on July 25, 2019 and sell it today you would lose (98,146)  from holding StocksExchange Bitcoin USD or give up 8.39% of portfolio value over 30 days.

Pair Corralation between Threexbit Bitcoin and StocksExchange Bitcoin

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for Threexbit Bitcoin and StocksExchange Bitcoin

Threexbit Bitcoin USD diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Threexbit Bitcoin USD and StocksExchange Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on StocksExchange Bitcoin 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 StocksExchange Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of StocksExchange Bitcoin has no effect on the direction of Threexbit Bitcoin i.e. Threexbit Bitcoin and StocksExchange Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.