Correlation Analysis Between itBit Bitcoin and LakeBTC Bitcoin

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

itBit Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in itBit Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, itBit Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
LakeBTC Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LakeBTC Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, LakeBTC Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

itBit Bitcoin and LakeBTC Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

itBit Bitcoin USD  vs.  LakeBTC Bitcoin USD

itBit

Bitcoin on itBit in USD

 10,205 
(137.00)  1.32%
Market Cap: 223.5 B
  

LakeBTC

Bitcoin on LakeBTC in USD

 10,465 
(78.65)  0.75%
Market Cap: 68.9 B
(260.21)
2.55% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, itBit Bitcoin USD is expected to generate 1.07 times more return on investment than LakeBTC Bitcoin. However, itBit Bitcoin is 1.07 times more volatile than LakeBTC Bitcoin USD. It trades about 0.07 of its potential returns per unit of risk. LakeBTC Bitcoin USD is currently generating about 0.06 per unit of risk. If you would invest  926,825  in itBit Bitcoin USD on July 19, 2019 and sell it today you would earn a total of  93,675  from holding itBit Bitcoin USD or generate 10.11% return on investment over 30 days.

Pair Corralation between itBit Bitcoin and LakeBTC Bitcoin

0.95
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for itBit Bitcoin and LakeBTC Bitcoin

itBit Bitcoin USD diversification synergy

Almost no diversification

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