Correlation Analysis Between itBit Bitcoin and P2PB2B Bancor

This module allows you to analyze existing cross correlation between itBit Bitcoin USD and P2PB2B Bancor Network Token USD. You can compare the effects of market volatilities on itBit Bitcoin and P2PB2B Bancor 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 P2PB2B Bancor. See also your portfolio center. Please also check ongoing floating volatility patterns of itBit Bitcoin and P2PB2B Bancor.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

itBit Bitcoin USD  
00

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. Despite somewhat strong basic indicators, itBit Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
P2PB2B Bancor Network  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Bancor Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, P2PB2B Bancor is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

itBit Bitcoin and P2PB2B Bancor Volatility Contrast

itBit Bitcoin USD  vs.  P2PB2B Bancor Network Token US

itBit

Bitcoin on itBit in USD

 10,018 
(11.75)  0.12%
Market Cap: 1.6 B
  

P2PB2B

Bancor Network Token on P2PB2B in USD

 0.42 
0.00  0.00%
Market Cap: 26.0
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  41.88  in P2PB2B Bancor Network Token USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding P2PB2B Bancor Network Token USD or generate 0.0% return on investment over 30 days.

Pair Corralation between itBit Bitcoin and P2PB2B Bancor

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for itBit Bitcoin and P2PB2B Bancor

itBit Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding itBit Bitcoin USD and P2PB2B Bancor Network Token US in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Bancor Network 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 P2PB2B Bancor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Bancor Network has no effect on the direction of itBit Bitcoin i.e. itBit Bitcoin and P2PB2B Bancor go up and down completely randomly.
See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
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