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
|
Bitfinex Bitcoin USD vs. BitTrex Bitcoin USD
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 Period | 1 Month [change] |
| Direction | Positive |
| Strength | Significant |
| Accuracy | 4.21% |
| Values | Daily 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
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.
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.
Specialization | IT, Search Cloud And Integrated IT Services |
| Business Address | 1600 Amphitheatre Parkway |
| Exchange | NASDAQ |
$0.0
Alphabet cannot be verified against its exchange. It appears that Alphabet is not available for investing at this time. Please verify the symbol is currently traded on NASDAQ. If you still believe the symbol you are trying to look up is valid please
let us know and we will check it as soon as possible.
Try Other Suggestions
| GTVJX | Goldman Sachs Target Date 2030 | Fund | |
| GTVMX | Goldman Sachs Target Date 2040 | Fund | |
| GTVOX | Goldman Sachs Target Date 2035 | Fund | |
| GTVSX | Goldman Sachs Target Date 2050 | Fund | |
| FPPXX | Government Obligations Fund Cl | Fund | |
| ELKMF | Gold Road Resources Limited | Stock | |
| GCGAX | Goldman Sachs Concentrated Gro | Fund | |
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
See also
your portfolio center. Please also try
My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
