This module allows you to analyze existing cross correlation between HitBTC Bitcoin USD and BitTrex Bitcoin USD. You can compare the effects of market volatilities on HitBTC 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 HitBTC Bitcoin with a short position of BitTrex Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Bitcoin
and BitTrex Bitcoin
Over the last 30 days HitBTC Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC Bitcoin and BitTrex Bitcoin Volatility Contrast
HitBTC Bitcoin USD vs. BitTrex Bitcoin USD
If you would invest 364,070 in HitBTC Bitcoin USD on December 17, 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 BitTrex Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for HitBTC Bitcoin and BitTrex Bitcoin
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC 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 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 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 HitBTC Bitcoin i.e. HitBTC Bitcoin and BitTrex Bitcoin go up and down completely randomly.