Correlation Analysis Between HitBTC Bitcoin and Coinroom Bitcoin

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

Comparative Performance

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.
Coinroom Bitcoin USD  
0

Risk-Adjusted Performance

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

HitBTC Bitcoin and Coinroom Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

HitBTC Bitcoin USD  vs.  Coinroom Bitcoin USD

HitBTC

Bitcoin on HitBTC in USD

 3,210 
0.00  0.00%
Market Cap: 817.8 K
  

Coinroom

Bitcoin on Coinroom in USD

 3,222 
99.86  3.20%
Market Cap: 1.9 B
(11.94)
0.37% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  320,985  in HitBTC Bitcoin USD on November 16, 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 Coinroom Bitcoin

0.72
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy4.55%
ValuesDaily Returns

Diversification Opportunities for HitBTC Bitcoin and Coinroom Bitcoin

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 Coinroom Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom 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 Coinroom Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom Bitcoin USD has no effect on the direction of HitBTC Bitcoin i.e. HitBTC Bitcoin and Coinroom Bitcoin go up and down completely randomly.

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See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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