Pair Correlation Between Abucoins Bitcoin and BitTrex Bitcoin

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

Abucoins

Bitcoin on Abucoins in USD
 17,552 
1,151  7.02%
Market Cap: 3.1 B
 1.7 
0.009686% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

BitTrex

Bitcoin on BitTrex in USD
 17,550 
1,200  7.34%
Market Cap: 2122.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Abucoins Bitcoin is expected to generate 1.06 times less return on investment than BitTrex Bitcoin. In addition to that, Abucoins Bitcoin is 1.06 times more volatile than BitTrex Bitcoin USD. It trades about 0.43 of its total potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about 0.48 per unit of volatility. If you would invest  782,000  in BitTrex Bitcoin USD on November 15, 2017 and sell it today you would earn a total of  978,200  from holding BitTrex Bitcoin USD or generate 125.09% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Abucoins Bitcoin and BitTrex Bitcoin
0.99

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Abucoins Bitcoin USD

  
28 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Abucoins Bitcoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.

BitTrex Bitcoin USD

  
31 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 31 (%) of all global equities and portfolios over the last 30 days.

BitTrex Bitcoin USD

Pair trading matchups for BitTrex Bitcoin