This module allows you to analyze existing cross correlation between BitTrex Bitcoin USD and CoinDeal Bitcoin USD. You can compare the effects of market volatilities on BitTrex Bitcoin and CoinDeal 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 CoinDeal Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of BitTrex Bitcoin and CoinDeal Bitcoin.
|Horizon||30 Days Login to change|
|BitTrex Bitcoin USD|
Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, BitTrex Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
|CoinDeal Bitcoin USD|
Over the last 30 days CoinDeal Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
BitTrex Bitcoin and CoinDeal Bitcoin Volatility Contrast
BitTrex Bitcoin USD vs. CoinDeal Bitcoin USD
Assuming 30 trading days horizon, BitTrex Bitcoin USD is expected to generate 0.18 times more return on investment than CoinDeal Bitcoin. However, BitTrex Bitcoin USD is 5.6 times less risky than CoinDeal Bitcoin. It trades about -0.71 of its potential returns per unit of risk. CoinDeal Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest 1,010,249 in BitTrex Bitcoin USD on August 22, 2019 and sell it today you would lose (1,863) from holding BitTrex Bitcoin USD or give up 0.18% of portfolio value over 30 days.
Pair Corralation between BitTrex Bitcoin and CoinDeal Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for BitTrex Bitcoin and CoinDeal Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Bitcoin USD and CoinDeal Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CoinDeal 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 CoinDeal Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CoinDeal Bitcoin USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and CoinDeal Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.