Correlation Analysis Between Bitstamp Bitcoin and BitTrex Bitcoin

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

Comparative Performance

Bitstamp Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
BitTrex Bitcoin USD  
0

Risk-Adjusted Performance

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

Bitstamp Bitcoin and BitTrex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitstamp Bitcoin USD  vs.  BitTrex Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 3,548 
(14.97)  0.00%
Market Cap: 17.4 B
  

BitTrex

Bitcoin on BitTrex in USD

 3,552 
(14.29)  0.00%
Market Cap: 1.9 B
(3.63)
0.10% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to under-perform the BitTrex Bitcoin. In addition to that, Bitstamp Bitcoin is 1.0 times more volatile than BitTrex Bitcoin USD. It trades about -0.01 of its total potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about -0.01 per unit of volatility. If you would invest  373,942  in BitTrex Bitcoin USD on December 24, 2018 and sell it today you would lose (17,182)  from holding BitTrex Bitcoin USD or give up 4.59% of portfolio value over 30 days.

Pair Corralation between Bitstamp Bitcoin and BitTrex Bitcoin

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitstamp Bitcoin and BitTrex Bitcoin

Bitstamp Bitcoin USD diversification synergy

No risk reduction

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

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