Correlation Analysis Between Bitstamp Bitcoin and TrustDEX Bitcoin

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

Bitstamp Bitcoin USD  vs.  TrustDEX Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD
 7,438 
28.39  0.38%
Market Cap: 360.8 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 8,167 
49.28  0.60%
Market Cap: 123.4 B
(728.24)
9.79% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin is expected to generate 1.0 times less return on investment than TrustDEX Bitcoin. In addition to that, Bitstamp Bitcoin is 1.05 times more volatile than TrustDEX Bitcoin USD. It trades about 0.2 of its total potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.21 per unit of volatility. If you would invest  676,674  in TrustDEX Bitcoin USD on June 22, 2018 and sell it today you would earn a total of  137,216  from holding TrustDEX Bitcoin USD or generate 20.28% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and TrustDEX Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp Bitcoin USD and TrustDEX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on TrustDEX 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 TrustDEX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TrustDEX Bitcoin USD has no effect on the direction of Bitstamp Bitcoin i.e. Bitstamp Bitcoin and TrustDEX Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Bitcoin USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Bitstamp Bitcoin USD

Pair trading matchups for Bitstamp Bitcoin
TrustDEX Bitcoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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