Pair Correlation Between HitBTC Bitcoin and BitTrex Bitcoin

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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

HitBTC Bitcoin USD  vs.  BitTrex Bitcoin USD

HitBTC

Bitcoin on HitBTC in USD
 8,997 
162.17  1.84%
Market Cap: 535.8 B
  

BitTrex

Bitcoin on BitTrex in USD
 8,888 
88.00  1.00%
Market Cap: 137.7 B
 109.33 
1.22% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bitcoin USD is expected to under-perform the BitTrex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Bitcoin USD is 1.11 times less risky than BitTrex Bitcoin. The crypto trades about -0.04 of its potential returns per unit of risk. The BitTrex Bitcoin USD is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest  1,035,900  in BitTrex Bitcoin USD on March 27, 2018 and sell it today you would lose (155,900)  from holding BitTrex Bitcoin USD or give up 15.05% of portfolio value over 30 days.

Pair Corralation between HitBTC Bitcoin and BitTrex Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

No risk reduction

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.

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.
BitTrex Bitcoin USD  
0 

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.

My Equities

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1067.45

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