Correlation Analysis Between P2PB2B Bitcoin and itBit Bitcoin

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

Comparative Performance

P2PB2B Bitcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in P2PB2B Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, P2PB2B Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
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 weak basic indicators, itBit Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

P2PB2B Bitcoin and itBit Bitcoin Volatility Contrast

P2PB2B Bitcoin USD  vs.  itBit Bitcoin USD

P2PB2B

Bitcoin on P2PB2B in USD

 10,808 
610.86  5.99%
Market Cap: 1856.3 B
  

itBit

Bitcoin on itBit in USD

 0.00 
0.00  0.00%
Market Cap: 223.5 B
 10,808 
100.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, P2PB2B Bitcoin is expected to generate 1.21 times less return on investment than itBit Bitcoin. But when comparing it to its historical volatility, P2PB2B Bitcoin USD is 1.16 times less risky than itBit Bitcoin. It trades about 0.05 of its potential returns per unit of risk. itBit Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  993,650  in itBit Bitcoin USD on July 20, 2019 and sell it today you would earn a total of  73,725  from holding itBit Bitcoin USD or generate 7.42% return on investment over 30 days.

Pair Corralation between P2PB2B Bitcoin and itBit Bitcoin

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for P2PB2B Bitcoin and itBit Bitcoin

P2PB2B Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding P2PB2B Bitcoin USD and itBit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit Bitcoin USD and P2PB2B 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 P2PB2B Bitcoin USD are associated (or correlated) with itBit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Bitcoin USD has no effect on the direction of P2PB2B Bitcoin i.e. P2PB2B Bitcoin and itBit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.


 
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