Correlation Analysis Between Bitfinex Bitcoin and HitBTC Bitcoin

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

Bitfinex Bitcoin USD  vs.  HitBTC Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD

 5,612 
3.20  0.06%
Market Cap: 7.2 B
  

HitBTC

Bitcoin on HitBTC in USD

 5,545 
0.00  0.00%
Market Cap: 856.1 K
 67.04 
1.19% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  554,496  in HitBTC Bitcoin USD on October 18, 2018 and sell it today you would earn a total of  0.00  from holding HitBTC Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex Bitcoin and HitBTC Bitcoin

0.42
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy4.55%
ValuesDaily Returns

Diversification

Bitfinex Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex 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 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 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 Bitfinex Bitcoin i.e. Bitfinex Bitcoin and HitBTC 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.
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.

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ExchangeNASDAQ
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