Pair Correlation Between Tidex Bitcoin and HitBTC Bitcoin

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

Tidex

Bitcoin on Tidex in USD
 16,768 
0.003971  0.00%
Market Cap: 101.4 K
(1,078)

HitBTC

Bitcoin on HitBTC in USD
 17,847 
436.76  2.51%
Market Cap: 1379.5 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  795,362  in HitBTC Bitcoin USD on November 16, 2017 and sell it today you would earn a total of  947,456  from holding HitBTC Bitcoin USD or generate 119.12% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Bitcoin and HitBTC Bitcoin
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy3.23%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

HitBTC Bitcoin USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bitcoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.