This module allows you to analyze existing cross correlation between Bitfinex Bitcoin USD and itBit Bitcoin USD. You can compare the effects of market volatilities on Bitfinex Bitcoin and itBit 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 itBit Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Bitcoin and itBit Bitcoin.
|Horizon||30 Days Login to change|
|Bitfinex Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, Bitfinex Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.
|itBit Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in itBit Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, itBit Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Bitfinex Bitcoin and itBit Bitcoin Volatility Contrast
Predicted Return Density
Bitfinex Bitcoin USD vs. itBit Bitcoin USD
Assuming 30 trading days horizon, Bitfinex Bitcoin is expected to generate 1.18 times less return on investment than itBit Bitcoin. But when comparing it to its historical volatility, Bitfinex Bitcoin USD is 1.08 times less risky than itBit Bitcoin. It trades about 0.04 of its potential returns per unit of risk. itBit Bitcoin USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 1,054,975 in itBit Bitcoin USD on July 21, 2019 and sell it today you would earn a total of 21,325 from holding itBit Bitcoin USD or generate 2.02% return on investment over 30 days.
Pair Corralation between Bitfinex Bitcoin and itBit Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Bitfinex Bitcoin and itBit Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Bitcoin USD and itBit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit 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 itBit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Bitcoin USD has no effect on the direction of Bitfinex Bitcoin i.e. Bitfinex Bitcoin and itBit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.