Pair Correlation Between TrustDEX Bitcoin and BitTrex Bitcoin

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

TrustDEX

Bitcoin on TrustDEX in USD
 13,859 
(324.78)  2.29%
Market Cap: 703.3 B
 1,407 
10.16% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

BitTrex

Bitcoin on BitTrex in USD
 12,451 
(442.8)  3.43%
Market Cap: 1524.7 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin is expected to generate 1.95 times less return on investment than BitTrex Bitcoin. But when comparing it to its historical volatility, TrustDEX Bitcoin USD is 1.1 times less risky than BitTrex Bitcoin. It trades about 0.02 of its potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  1,348,900  in BitTrex Bitcoin USD on December 21, 2017 and sell it today you would lose (65,500)  from holding BitTrex Bitcoin USD or give up 4.86% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between TrustDEX Bitcoin and BitTrex Bitcoin
1.0

Parameters

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 TrustDEX 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 TrustDEX 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 TrustDEX 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 TrustDEX Bitcoin i.e. TrustDEX Bitcoin and BitTrex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

TrustDEX Bitcoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin

BitTrex Bitcoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

BitTrex Bitcoin USD

Pair trading matchups for BitTrex Bitcoin