Correlation Analysis Between itBit Bitcoin and TrustDEX Bitcoin

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

itBit Bitcoin USD  vs.  TrustDEX Bitcoin USD

itBit

Bitcoin on itBit in USD
 7,711 
93.76  1.23%
Market Cap: 167.4 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 8,503 
227.03  2.74%
Market Cap: 123.4 B
(792.38)
10.28% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, itBit Bitcoin is expected to generate 1.01 times less return on investment than TrustDEX Bitcoin. In addition to that, itBit Bitcoin is 1.01 times more volatile than TrustDEX Bitcoin USD. It trades about 0.26 of its total potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.26 per unit of volatility. If you would invest  679,195  in TrustDEX Bitcoin USD on June 23, 2018 and sell it today you would earn a total of  168,645  from holding TrustDEX Bitcoin USD or generate 24.83% return on investment over 30 days.

Pair Corralation between itBit Bitcoin and TrustDEX Bitcoin

1.0
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 itBit Bitcoin USD and TrustDEX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on TrustDEX 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 TrustDEX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TrustDEX Bitcoin USD has no effect on the direction of itBit Bitcoin i.e. itBit Bitcoin and TrustDEX Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
itBit Bitcoin USD  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in itBit Bitcoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

itBit Bitcoin USD

Pair trading matchups for itBit Bitcoin
TrustDEX Bitcoin USD  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1198.56

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.


 
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