Pair Correlation Between HitBTC Bitcoin and Exmo Bitcoin

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

HitBTC Bitcoin USD  vs.  Exmo Bitcoin USD

HitBTC

Bitcoin on HitBTC in USD
 9,179 
21.35  0.23%
Market Cap: 535.8 B
  

Exmo

Bitcoin on Exmo in USD
 9,187 
87.00  0.96%
Market Cap: 35.5 B
(7.80)
0.084975% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bitcoin USD is expected to generate 1.04 times more return on investment than Exmo Bitcoin. However, HitBTC Bitcoin is 1.04 times more volatile than Exmo Bitcoin USD. It trades about -0.03 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.05 per unit of risk. If you would invest  1,044,031  in HitBTC Bitcoin USD on March 27, 2018 and sell it today you would lose (127,693)  from holding HitBTC Bitcoin USD or give up 12.23% of portfolio value over 30 days.

Pair Corralation between HitBTC Bitcoin and Exmo Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Risk-Adjusted Performance

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

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