Correlation Analysis Between EXRATES Bitcoin and coinfield Bitcoin

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

Comparative Performance

EXRATES Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of weak performance in the last few months, the Crypto's forward-looking signals remain relatively invariable which may send shares a bit higher in October 2019. The latest agitation may also be a sign of long running up-swing for the entity management.
coinfield Bitcoin USD  
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Risk-Adjusted Performance

Over the last 30 days coinfield Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

EXRATES Bitcoin and coinfield Bitcoin Volatility Contrast

EXRATES Bitcoin USD  vs.  coinfield Bitcoin USD

EXRATES

Bitcoin on EXRATES in USD

 10,172 
(168.80)  1.63%
Market Cap: 667.9 B
  

coinfield

Bitcoin on coinfield in USD

 10,207 
(118.55)  1.15%
Market Cap: 2.1 M
(35.10)
0.35% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Bitcoin USD is expected to generate 0.8 times more return on investment than coinfield Bitcoin. However, EXRATES Bitcoin USD is 1.26 times less risky than coinfield Bitcoin. It trades about -0.71 of its potential returns per unit of risk. coinfield Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest  1,034,065  in EXRATES Bitcoin USD on August 17, 2019 and sell it today you would lose (16,906)  from holding EXRATES Bitcoin USD or give up 1.63% of portfolio value over 30 days.

Pair Corralation between EXRATES Bitcoin and coinfield Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for EXRATES Bitcoin and coinfield Bitcoin

EXRATES Bitcoin USD diversification synergy

Pay attention

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


 
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