Pair Correlation 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.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
Bitfinex Bitcoin USD vs. BitTrex Bitcoin USD
BitfinexBitcoin on Bitfinex in USD 8,990
| BitTrexBitcoin on BitTrex in USD 8,978
|
Pair Volatility
Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 0.98 times more return on investment than BitTrex Bitcoin. However, Bitfinex Bitcoin USD is 1.02 times less risky than BitTrex Bitcoin. It trades about -0.01 of its potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about -0.01 per unit of risk. If you would invest 989,620 in Bitfinex Bitcoin USD on March 23, 2018 and sell it today you would lose (90,630) from holding Bitfinex Bitcoin USD or give up 9.16% of portfolio value over 30 days.
Pair Corralation between Bitfinex Bitcoin and BitTrex Bitcoin
0.99
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
No risk reduction
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
| Bitfinex Bitcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver 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 |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
BitTrex Bitcoin USD
Pair trading matchups for BitTrex Bitcoin
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See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.