This module allows you to analyze existing cross correlation between primexbt Bitcoin USD and BTCAlpha Bitcoin USD. You can compare the effects of market volatilities on primexbt Bitcoin and BTCAlpha 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 primexbt Bitcoin with a short position of BTCAlpha Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of primexbt Bitcoin and BTCAlpha Bitcoin.
|Horizon||30 Days Login to change|
|primexbt Bitcoin USD|
Over the last 30 days primexbt Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, primexbt Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
|BTCAlpha Bitcoin USD|
Over the last 30 days BTCAlpha Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
primexbt Bitcoin and BTCAlpha Bitcoin Volatility Contrast
primexbt Bitcoin USD vs. BTCAlpha Bitcoin USD
Assuming 30 trading days horizon, primexbt Bitcoin USD is expected to generate 0.16 times more return on investment than BTCAlpha Bitcoin. However, primexbt Bitcoin USD is 6.2 times less risky than BTCAlpha Bitcoin. It trades about -0.71 of its potential returns per unit of risk. BTCAlpha Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest 1,006,700 in primexbt Bitcoin USD on August 22, 2019 and sell it today you would lose (1,300) from holding primexbt Bitcoin USD or give up 0.13% of portfolio value over 30 days.
Pair Corralation between primexbt Bitcoin and BTCAlpha Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for primexbt Bitcoin and BTCAlpha Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding primexbt Bitcoin USD and BTCAlpha Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BTCAlpha Bitcoin USD and primexbt 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 primexbt Bitcoin USD are associated (or correlated) with BTCAlpha Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTCAlpha Bitcoin USD has no effect on the direction of primexbt Bitcoin i.e. primexbt Bitcoin and BTCAlpha Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.