Pair Correlation Between TrustDEX Bitcoin and HitBTC Bitcoin

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

TrustDEX Bitcoin USD  vs.  HitBTC Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 9,532 
209.00  2.15%
Market Cap: 192.4 B
  

HitBTC

Bitcoin on HitBTC in USD
 8,901 
132.08  1.46%
Market Cap: 317.4 B
 630.41 
6.61% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to under-perform the HitBTC Bitcoin. In addition to that, TrustDEX Bitcoin is 1.11 times more volatile than HitBTC Bitcoin USD. It trades about -0.06 of its total potential returns per unit of risk. HitBTC Bitcoin USD is currently generating about -0.05 per unit of volatility. If you would invest  1,094,449  in HitBTC Bitcoin USD on March 22, 2018 and sell it today you would lose (189,672)  from holding HitBTC Bitcoin USD or give up 17.33% of portfolio value over 30 days.

Pair Corralation between TrustDEX Bitcoin and HitBTC Bitcoin

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding TrustDEX 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 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 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 TrustDEX Bitcoin i.e. TrustDEX Bitcoin and HitBTC Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
TrustDEX Bitcoin USD  
0 

Risk-Adjusted Performance

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

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin
HitBTC Bitcoin USD  
0 

Risk-Adjusted Performance

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

HitBTC Bitcoin USD

Pair trading matchups for HitBTC Bitcoin

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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See also your portfolio center. Please also try Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.