Correlation Analysis Between BitTrex Bitcoin and LakeBTC Bitcoin

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

Comparative Performance

BitTrex Bitcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Inspite fairly weak basic indicators, BitTrex Bitcoin showed solid returns over the last few months and may actually be approaching a breakup point.
LakeBTC Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LakeBTC Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, LakeBTC Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

BitTrex Bitcoin and LakeBTC Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

BitTrex Bitcoin USD  vs.  LakeBTC Bitcoin USD

BitTrex

Bitcoin on BitTrex in USD

 10,201 
(41.67)  0.41%
Market Cap: 45.2 B
  

LakeBTC

Bitcoin on LakeBTC in USD

 10,465 
(78.65)  0.75%
Market Cap: 68.9 B
(264.06)
2.59% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Bitcoin is expected to generate 1.12 times less return on investment than LakeBTC Bitcoin. But when comparing it to its historical volatility, BitTrex Bitcoin USD is 1.0 times less risky than LakeBTC Bitcoin. It trades about 0.05 of its potential returns per unit of risk. LakeBTC Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  968,396  in LakeBTC Bitcoin USD on July 19, 2019 and sell it today you would earn a total of  85,990  from holding LakeBTC Bitcoin USD or generate 8.88% return on investment over 30 days.

Pair Corralation between BitTrex Bitcoin and LakeBTC Bitcoin

0.94
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for BitTrex Bitcoin and LakeBTC Bitcoin

BitTrex Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Bitcoin USD and LakeBTC Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LakeBTC 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 LakeBTC Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LakeBTC Bitcoin USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and LakeBTC Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.


 
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