Correlation Analysis Between BitTrex Bitcoin and Poloniex Bitcoin

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

BitTrex Bitcoin USD  vs.  Poloniex Bitcoin USD

BitTrex

Bitcoin on BitTrex in USD

 6,440 
65.24  1.02%
Market Cap: 1.8 B
  

Poloniex

Bitcoin on Poloniex in USD

 6,635 
46.60  0.71%
Market Cap: 1.1 B
(195.40)
3.03% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Bitcoin USD is expected to generate 2.91 times more return on investment than Poloniex Bitcoin. However, BitTrex Bitcoin is 2.91 times more volatile than Poloniex Bitcoin USD. It trades about 0.06 of its potential returns per unit of risk. Poloniex Bitcoin USD is currently generating about -0.01 per unit of risk. If you would invest  637,476  in BitTrex Bitcoin USD on September 21, 2018 and sell it today you would earn a total of  6,524  from holding BitTrex Bitcoin USD or generate 1.02% return on investment over 30 days.

Pair Corralation between BitTrex Bitcoin and Poloniex Bitcoin

0.71
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy4.02%
ValuesDaily Returns

Diversification

Poor diversification

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

BitTrex Bitcoin USD

Pair trading matchups for BitTrex Bitcoin

Poloniex Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Poloniex Bitcoin USD

Pair trading matchups for Poloniex Bitcoin

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Alphabet
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