This module allows you to analyze existing cross correlation between Bitstamp Bitcoin USD and Bitfinex Bitcoin USD. You can compare the effects of market volatilities on Bitstamp Bitcoin and Bitfinex 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 Bitstamp Bitcoin with a short position of Bitfinex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitstamp Bitcoin and Bitfinex Bitcoin.
|Horizon||30 Days Login to change|
|Bitstamp Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Bitstamp Bitcoin revealed solid returns over the last few months and may actually be approaching a breakup point.
|Bitfinex Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, Bitfinex Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.
Bitstamp Bitcoin and Bitfinex Bitcoin Volatility Contrast
Predicted Return Density
Bitstamp Bitcoin USD vs. Bitfinex Bitcoin USD
Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to generate 1.06 times more return on investment than Bitfinex Bitcoin. However, Bitstamp Bitcoin is 1.06 times more volatile than Bitfinex Bitcoin USD. It trades about 0.33 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about 0.33 per unit of risk. If you would invest 390,478 in Bitstamp Bitcoin USD on April 22, 2019 and sell it today you would earn a total of 335,534 from holding Bitstamp Bitcoin USD or generate 85.93% return on investment over 30 days.
Pair Corralation between Bitstamp Bitcoin and Bitfinex Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Bitstamp Bitcoin and Bitfinex Bitcoin
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and Bitstamp 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 Bitstamp Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of Bitstamp Bitcoin i.e. Bitstamp Bitcoin and Bitfinex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.