Correlation Analysis Between BitTrex Bitcoin and Coinbase Bitcoin

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

BitTrex Bitcoin USD  vs.  Coinbase Bitcoin USD

BitTrex

Bitcoin on BitTrex in USD

 6,315 
129.25  2.09%
Market Cap: 5.3 B
  

Coinbase

Bitcoin on Coinbase in USD

 6,399 
203.15  3.28%
Market Cap: 51.6 B
(83.90)
1.33% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Bitcoin is expected to generate 1.12 times less return on investment than Coinbase Bitcoin. In addition to that, BitTrex Bitcoin is 1.06 times more volatile than Coinbase Bitcoin USD. It trades about 0.07 of its total potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.08 per unit of volatility. If you would invest  625,101  in Coinbase Bitcoin USD on September 15, 2018 and sell it today you would earn a total of  23,355  from holding Coinbase Bitcoin USD or generate 3.74% return on investment over 30 days.

Pair Corralation between BitTrex Bitcoin and Coinbase Bitcoin

0.99
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 BitTrex Bitcoin USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin USD and BitTrex 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 BitTrex Bitcoin USD are associated (or correlated) with Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and Coinbase Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

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
$1110.08

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