This module allows you to analyze existing cross correlation between Cexio Bitcoin USD and BitTrex Bitcoin USD. You can compare the effects of market volatilities on Cexio Bitcoin and BitTrex 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 Cexio Bitcoin with a short position of BitTrex Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Cexio Bitcoin
and BitTrex Bitcoin
Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Bitcoin and BitTrex Bitcoin Volatility Contrast
Cexio Bitcoin USD vs. BitTrex Bitcoin USD
Assuming 30 trading days horizon, Cexio Bitcoin USD is expected to generate 1.52 times more return on investment than BitTrex Bitcoin. However, Cexio Bitcoin is 1.52 times more volatile than BitTrex Bitcoin USD. It trades about 0.05 of its potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about -0.31 per unit of risk. If you would invest 354,380 in Cexio Bitcoin USD on November 18, 2018 and sell it today you would lose (5,120) from holding Cexio Bitcoin USD or give up 1.44% of portfolio value over 30 days.
Pair Corralation between Cexio Bitcoin and BitTrex Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Cexio Bitcoin and BitTrex Bitcoin
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Cexio Bitcoin USD and BitTrex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Bitcoin USD and Cexio 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 Cexio Bitcoin USD are associated (or correlated) with BitTrex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Bitcoin USD has no effect on the direction of Cexio Bitcoin i.e. Cexio Bitcoin and BitTrex Bitcoin go up and down completely randomly.