Pair Correlation Between Cexio Bitcoin and HitBTC Bitcoin

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

Cexio Bitcoin USD  vs.  HitBTC Bitcoin USD

Cexio

Bitcoin on Cexio in USD
 9,309 
150.70  1.65%
Market Cap: 51.2 B
  

HitBTC

Bitcoin on HitBTC in USD
 9,398 
66.87  0.72%
Market Cap: 317.4 B
(88.67)
0.95% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Bitcoin USD is expected to generate 1.05 times more return on investment than HitBTC Bitcoin. However, Cexio Bitcoin is 1.05 times more volatile than HitBTC Bitcoin USD. It trades about 0.0 of its potential returns per unit of risk. HitBTC Bitcoin USD is currently generating about 0.0 per unit of risk. If you would invest  974,210  in Cexio Bitcoin USD on March 25, 2018 and sell it today you would lose (58,380)  from holding Cexio Bitcoin USD or give up 5.99% of portfolio value over 30 days.

Pair Corralation between Cexio Bitcoin and HitBTC Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Cexio Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Cexio Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC Bitcoin USD  
0 

Risk-Adjusted Performance

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

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