Correlation Analysis Between Bitfinex Bitcoin and BitTrex Bitcoin

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

Bitfinex Bitcoin USD  vs.  BitTrex Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD

 6,612 
22.00  0.33%
Market Cap: 71.4 B
  

BitTrex

Bitcoin on BitTrex in USD

 6,388 
13.00  0.20%
Market Cap: 1.8 B
 224.24 
3.39% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to under-perform the BitTrex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Bitcoin USD is 3.1 times less risky than BitTrex Bitcoin. The crypto trades about -0.02 of its potential returns per unit of risk. The BitTrex Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  637,476  in BitTrex Bitcoin USD on September 21, 2018 and sell it today you would earn a total of  0.00  from holding BitTrex Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex Bitcoin and BitTrex Bitcoin

0.79
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy4.21%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Bitcoin USD  
0 

Risk-Adjusted Performance

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

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin

BitTrex Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

BitTrex Bitcoin USD

Pair trading matchups for BitTrex Bitcoin

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GOOG - USA Stock
Alphabet
Specialization
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ExchangeNASDAQ
$0.0
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