Correlation Analysis Between Bitstamp Bitcoin and BitTrex Bitcoin

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

Comparative Performance

Bitstamp Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Bitstamp Bitcoin is not utilizing all of its potentials. The current stock price chaos, may contribute to medium term losses for the stakeholders.
BitTrex Bitcoin USD  
00

Risk-Adjusted Performance

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

Bitstamp Bitcoin and BitTrex Bitcoin Volatility Contrast

Bitstamp Bitcoin USD  vs.  BitTrex Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 7,968 
16.56   0.21 
Market Cap: 1100.9 B
  

BitTrex

Bitcoin on BitTrex in USD

 7,987 
30.62   0.38 
Market Cap: 70.6 B
(19.06)
0.24  Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  795,139  in Bitstamp Bitcoin USD on September 23, 2019 and sell it today you would earn a total of  861.00  from holding Bitstamp Bitcoin USD or generate 0.11% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and BitTrex Bitcoin

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

Diversification Opportunities for Bitstamp Bitcoin and BitTrex Bitcoin

Bitstamp Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp 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 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 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 Bitstamp Bitcoin i.e. Bitstamp Bitcoin and BitTrex Bitcoin 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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