Correlation Analysis Between BitTrex Bitcoin and OKCoin Bitcoin

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

Comparative Performance

BitTrex Bitcoin USD  
00

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. 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.
OKCoin Bitcoin USD  
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Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

BitTrex Bitcoin and OKCoin Bitcoin Volatility Contrast

BitTrex Bitcoin USD  vs.  OKCoin Bitcoin USD

BitTrex

Bitcoin on BitTrex in USD

 10,016 
(86.77)  0.86%
Market Cap: 70.6 B
  

OKCoin

Bitcoin on OKCoin in USD

 9,983 
(116.72)  1.16%
Market Cap: 29.2 B
 32.62 
0.33% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Bitcoin USD is expected to generate 0.69 times more return on investment than OKCoin Bitcoin. However, BitTrex Bitcoin USD is 1.45 times less risky than OKCoin Bitcoin. It trades about -0.71 of its potential returns per unit of risk. OKCoin 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 OKCoin Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for BitTrex Bitcoin and OKCoin Bitcoin

BitTrex Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Bitcoin USD and OKCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin 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 OKCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Bitcoin USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and OKCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.


 
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