Correlation Analysis Between OKCoin Bitcoin and Bitfinex NEO

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

Comparative Performance

OKCoin Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, OKCoin Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Bitfinex NEO USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex NEO is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

OKCoin Bitcoin and Bitfinex NEO Volatility Contrast

OKCoin Bitcoin USD  vs.  Bitfinex NEO USD

OKCoin

Bitcoin on OKCoin in USD

 10,153 
0.00  0.00%
Market Cap: 29.2 B
  

Bitfinex

NEO on Bitfinex in USD

 9.59 
0.003  0.0313%
Market Cap: 618.9 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,016,205  in OKCoin Bitcoin USD on August 21, 2019 and sell it today you would earn a total of  0.00  from holding OKCoin Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between OKCoin Bitcoin and Bitfinex NEO

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and Bitfinex NEO

OKCoin Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding OKCoin Bitcoin USD and Bitfinex NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex NEO USD and OKCoin 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 OKCoin Bitcoin USD are associated (or correlated) with Bitfinex NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex NEO USD has no effect on the direction of OKCoin Bitcoin i.e. OKCoin Bitcoin and Bitfinex NEO go up and down completely randomly.
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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