Correlation Analysis Between BitBay Bitcoin and itBit Bitcoin

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

BitBay Bitcoin USD  vs.  itBit Bitcoin USD

BitBay

Bitcoin on BitBay in USD
 0.00 
0.00  0.00%
Market Cap: 238.7 K
  

itBit

Bitcoin on itBit in USD
 7,325 
30.71  0.42%
Market Cap: 167.4 B
(7,325)
Huge% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  671,339  in itBit Bitcoin USD on June 20, 2018 and sell it today you would earn a total of  61,144  from holding itBit Bitcoin USD or generate 9.11% return on investment over 30 days.

Pair Corralation between BitBay Bitcoin and itBit Bitcoin

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.35%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

BitBay Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days BitBay Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
itBit Bitcoin USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in itBit Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

itBit Bitcoin USD

Pair trading matchups for itBit Bitcoin

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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