Correlation Analysis Between itBit Bitcoin and Cexio Bitcoin

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

itBit Bitcoin USD  vs.  Cexio Bitcoin USD

itBit

Bitcoin on itBit in USD

 6,434 
28.56  0.45%
Market Cap: 46.4 B
  

Cexio

Bitcoin on Cexio in USD

 6,565 
17.90  0.27%
Market Cap: 3.6 B
(131.24)
2.04% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  656,480  in Cexio Bitcoin USD on September 21, 2018 and sell it today you would earn a total of  0.00  from holding Cexio Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between itBit Bitcoin and Cexio Bitcoin

0.8
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy4.55%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
itBit Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days itBit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Bitcoin USD  
0 

Risk-Adjusted Performance

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

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