This module allows you to analyze existing cross correlation between ExtStock Bitcoin USD and BitTrex Bitcoin USD. You can compare the effects of market volatilities on ExtStock 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 ExtStock Bitcoin with a short position of BitTrex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of ExtStock Bitcoin and BitTrex Bitcoin.
|Horizon||30 Days Login to change|
|ExtStock Bitcoin USD|
Over the last 30 days ExtStock Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, ExtStock Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
|BitTrex Bitcoin USD|
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.
ExtStock Bitcoin and BitTrex Bitcoin Volatility Contrast
ExtStock Bitcoin USD vs. BitTrex Bitcoin USD
If you would invest 976,500 in ExtStock Bitcoin USD on August 21, 2019 and sell it today you would earn a total of 28,737 from holding ExtStock Bitcoin USD or generate 2.94% return on investment over 30 days.
Pair Corralation between ExtStock Bitcoin and BitTrex Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for ExtStock Bitcoin and BitTrex Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding ExtStock 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 ExtStock 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 ExtStock 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 ExtStock Bitcoin i.e. ExtStock Bitcoin and BitTrex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.