Correlation Analysis Between Coinsbit Bitcoin and BitTrex Bitcoin

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

Coinsbit Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
BitTrex Bitcoin USD  
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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.

Coinsbit Bitcoin and BitTrex Bitcoin Volatility Contrast

Coinsbit Bitcoin USD  vs.  BitTrex Bitcoin USD

Coinsbit

Bitcoin on Coinsbit in USD

 10,186 
(53.38)  0.52%
Market Cap: 597 B
  

BitTrex

Bitcoin on BitTrex in USD

 10,016 
(86.77)  0.86%
Market Cap: 70.6 B
 169.90 
1.67% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Bitcoin USD is expected to under-perform the BitTrex Bitcoin. In addition to that, Coinsbit Bitcoin is 3.09 times more volatile than BitTrex Bitcoin USD. It trades about -0.71 of its total potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about -0.71 per unit of volatility. 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 Coinsbit Bitcoin and BitTrex Bitcoin

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

Diversification Opportunities for Coinsbit Bitcoin and BitTrex Bitcoin

Coinsbit Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Coinsbit 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 Coinsbit 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 Coinsbit 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 Coinsbit Bitcoin i.e. Coinsbit Bitcoin and BitTrex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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