This module allows you to analyze existing cross correlation between BTCAlpha Bitcoin USD and P2PB2B Bitcoin USD. You can compare the effects of market volatilities on BTCAlpha Bitcoin and P2PB2B 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 BTCAlpha Bitcoin with a short position of P2PB2B Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of BTCAlpha Bitcoin and P2PB2B Bitcoin.
|Horizon||30 Days Login to change|
|BTCAlpha Bitcoin USD|
Over the last 30 days BTCAlpha Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, BTCAlpha Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
|P2PB2B Bitcoin USD|
Over the last 30 days P2PB2B Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
BTCAlpha Bitcoin and P2PB2B Bitcoin Volatility Contrast
Predicted Return Density
BTCAlpha Bitcoin USD vs. P2PB2B Bitcoin USD
Assuming 30 trading days horizon, BTCAlpha Bitcoin USD is expected to generate 1.11 times more return on investment than P2PB2B Bitcoin. However, BTCAlpha Bitcoin is 1.11 times more volatile than P2PB2B Bitcoin USD. It trades about -0.01 of its potential returns per unit of risk. P2PB2B Bitcoin USD is currently generating about -0.04 per unit of risk. If you would invest 1,164,641 in BTCAlpha Bitcoin USD on July 24, 2019 and sell it today you would lose (126,129) from holding BTCAlpha Bitcoin USD or give up 10.83% of portfolio value over 30 days.
Pair Corralation between BTCAlpha Bitcoin and P2PB2B Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for BTCAlpha Bitcoin and P2PB2B Bitcoin
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding BTCAlpha Bitcoin USD and P2PB2B Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Bitcoin USD and BTCAlpha 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 BTCAlpha Bitcoin USD are associated (or correlated) with P2PB2B Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Bitcoin USD has no effect on the direction of BTCAlpha Bitcoin i.e. BTCAlpha Bitcoin and P2PB2B Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.