Correlation Analysis Between BitTrex Bitcoin and Bitfinex Bitcoin

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

BitTrex Bitcoin USD  vs.  Bitfinex Bitcoin USD

BitTrex

Bitcoin on BitTrex in USD

 6,434 
16.00  0.25%
Market Cap: 1.8 B
  

Bitfinex

Bitcoin on Bitfinex in USD

 6,747 
35.00  0.52%
Market Cap: 71.4 B
(312.90)
4.86% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Bitcoin is expected to generate 2.23 times less return on investment than Bitfinex Bitcoin. But when comparing it to its historical volatility, BitTrex Bitcoin USD is 1.05 times less risky than Bitfinex Bitcoin. It trades about 0.07 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  625,560  in Bitfinex Bitcoin USD on September 17, 2018 and sell it today you would earn a total of  50,540  from holding Bitfinex Bitcoin USD or generate 8.08% return on investment over 30 days.

Pair Corralation between BitTrex Bitcoin and Bitfinex Bitcoin

0.9
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and BitTrex 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 BitTrex Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and Bitfinex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Bitcoin USD  
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.
Bitfinex Bitcoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1121.28

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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