Correlation Analysis Between Bitstamp Bitcoin and HitBTC Bitcoin

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

Bitstamp Bitcoin and HitBTC Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitstamp Bitcoin USD  vs.  HitBTC Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 3,265 
3.56  0.11%
Market Cap: 121.4 B
  

HitBTC

Bitcoin on HitBTC in USD

 3,248 
0.00  0.00%
Market Cap: 817.8 K
 16.80 
0.51% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  324,840  in HitBTC Bitcoin USD on November 13, 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 Bitstamp Bitcoin and HitBTC Bitcoin

0.75
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy2.27%
ValuesDaily Returns

Diversification Opportunities for Bitstamp Bitcoin and HitBTC Bitcoin

Bitstamp Bitcoin USD diversification synergy

Poor diversification

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

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