Correlation Analysis Between HitBTC Bitcoin and Bitstamp Bitcoin

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

HitBTC Bitcoin USD  vs.  Bitstamp Bitcoin USD

HitBTC

Bitcoin on HitBTC in USD

 3,579 
0.00  0.00%
Market Cap: 394.3 K
  

Bitstamp

Bitcoin on Bitstamp in USD

 3,532 
141.60  4.18%
Market Cap: 104.4 B
 47.70 
1.33% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  357,948  in HitBTC Bitcoin USD on November 9, 2018 and sell it today you would earn a total of  0.00  from holding HitBTC Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between HitBTC Bitcoin and Bitstamp Bitcoin

0.74
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy2.27%
ValuesDaily Returns

Diversification

HitBTC Bitcoin USD diversification synergy

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Bitstamp Bitcoin USD  
0

Risk-Adjusted Performance

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

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