This module allows you to analyze existing cross correlation between Tidex Bitcoin USD and itBit Bitcoin USD. You can compare the effects of market volatilities on Tidex 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 Tidex Bitcoin with a short position of itBit Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Tidex Bitcoin
and itBit Bitcoin
Tidex Bitcoin USD vs itBit Bitcoin USD
If you would invest 1,565,110 in Tidex Bitcoin USD on December 23, 2017 and sell it today you would earn a total of 0.00 from holding Tidex Bitcoin USD or generate 0.0% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Tidex 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 Tidex 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 Tidex 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 Tidex Bitcoin i.e. Tidex Bitcoin and itBit Bitcoin go up and down completely randomly.
Over the last 30 days itBit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.