Correlation Analysis Between itBit Bitcoin and Bitfinex Bitcoin

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

itBit Bitcoin USD  vs.  Bitfinex Bitcoin USD

itBit

Bitcoin on itBit in USD

 6,446 
5.83  0.09%
Market Cap: 46.4 B
  

Bitfinex

Bitcoin on Bitfinex in USD

 6,727 
8.60  0.13%
Market Cap: 71.4 B
(281.15)
4.36% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  672,740  in Bitfinex Bitcoin USD on September 17, 2018 and sell it today you would earn a total of  0.00  from holding Bitfinex Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between itBit Bitcoin and Bitfinex Bitcoin

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

itBit Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days itBit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex Bitcoin USD  
0 

Risk-Adjusted Performance

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

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1115.69

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