Correlation Analysis Between Bitstamp Bitcoin and DSX Bitcoin

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

Bitstamp Bitcoin USD  
2222

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Bitstamp Bitcoin revealed solid returns over the last few months and may actually be approaching a breakup point.
DSX Bitcoin USD  
2626

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in DSX Bitcoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, DSX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

Bitstamp Bitcoin and DSX Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitstamp Bitcoin USD  vs.  DSX Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 7,260 
(91.59)  1.25%
Market Cap: 138.8 B
  

DSX

Bitcoin on DSX in USD

 7,213 
(671.48)  8.52%
Market Cap: 110.2 M
 47.50 
0.65% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin is expected to generate 1.11 times less return on investment than DSX Bitcoin. In addition to that, Bitstamp Bitcoin is 1.08 times more volatile than DSX Bitcoin USD. It trades about 0.33 of its total potential returns per unit of risk. DSX Bitcoin USD is currently generating about 0.39 per unit of volatility. If you would invest  384,809  in DSX Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  403,601  from holding DSX Bitcoin USD or generate 104.88% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and DSX Bitcoin

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.56%
ValuesDaily Returns

Diversification Opportunities for Bitstamp Bitcoin and DSX Bitcoin

Bitstamp Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp Bitcoin USD and DSX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DSX Bitcoin USD and Bitstamp 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 Bitstamp Bitcoin USD are associated (or correlated) with DSX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DSX Bitcoin USD has no effect on the direction of Bitstamp Bitcoin i.e. Bitstamp Bitcoin and DSX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.


 
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