This module allows you to analyze existing cross correlation between itBit Bitcoin USD and BTCAlpha Bitcoin USD. You can compare the effects of market volatilities on itBit 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 itBit Bitcoin with a short position of BTCAlpha Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of itBit Bitcoin and BTCAlpha Bitcoin.
|Horizon||30 Days Login to change|
|itBit Bitcoin USD|
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.
|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 nearly stable fundamental indicators, BTCAlpha Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.
itBit Bitcoin and BTCAlpha Bitcoin Volatility Contrast
itBit Bitcoin USD vs. BTCAlpha Bitcoin USD
If you would invest (100.00) in BTCAlpha Bitcoin USD on August 16, 2019 and sell it today you would earn a total of 100.00 from holding BTCAlpha Bitcoin USD or generate -100.0% return on investment over 30 days.
Pair Corralation between itBit Bitcoin and BTCAlpha Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for itBit Bitcoin and BTCAlpha Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding itBit 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 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 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 itBit Bitcoin i.e. itBit Bitcoin and BTCAlpha Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.