Correlation Analysis Between Exmo Bitcoin and Bitforex Bitcoin

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

Comparative Performance

Exmo Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unchanging essential indicators, Exmo Bitcoin is not utilizing all of its potentials. The prevalent stock price uproar, may contribute to short horizon losses for the leadership.
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 prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

Exmo Bitcoin and Bitforex Bitcoin Volatility Contrast

Exmo Bitcoin USD  vs.  Bitforex Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 10,311 
(12.06)  0.12%
Market Cap: 42 B
  

Bitforex

Bitcoin on Bitforex in USD

 10,217 
0.00  0.00%
Market Cap: 23.2 M
 93.46 
0.91% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in Bitforex Bitcoin USD on August 18, 2019 and sell it today you would earn a total of  100.00  from holding Bitforex Bitcoin USD or generate -100.0% return on investment over 30 days.

Pair Corralation between Exmo Bitcoin and Bitforex Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Bitcoin and Bitforex Bitcoin

Exmo Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo 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 Exmo 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 Exmo 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 Exmo Bitcoin i.e. Exmo Bitcoin and Bitforex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
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