This module allows you to analyze existing cross correlation between BitTrex Bitcoin USD and Binance Bitcoin USD. You can compare the effects of market volatilities on BitTrex Bitcoin and Binance 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 BitTrex Bitcoin with a short position of Binance Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of BitTrex Bitcoin and Binance Bitcoin.
|Horizon||30 Days Login to change|
|BitTrex Bitcoin USD|
Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, BitTrex Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
|Binance Bitcoin USD|
Over the last 30 days Binance Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Binance Bitcoin is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
BitTrex Bitcoin and Binance Bitcoin Volatility Contrast
BitTrex Bitcoin USD vs. Binance Bitcoin USD
If you would invest 1,020,796 in Binance Bitcoin USD on August 18, 2019 and sell it today you would earn a total of 0.00 from holding Binance Bitcoin USD or generate 0.0% return on investment over 30 days.
Pair Corralation between BitTrex Bitcoin and Binance Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for BitTrex Bitcoin and Binance Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Bitcoin USD and Binance Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Binance Bitcoin USD and BitTrex 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 BitTrex Bitcoin USD are associated (or correlated) with Binance Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Binance Bitcoin USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and Binance Bitcoin 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.