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
Abucoins Bitcoin USD vs BitTrex Bitcoin USD
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.
|Time Period||1 Month [change]|
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.
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.
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.