Correlation Analysis Between BitTrex Ethereum and DSX Ethereum

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

Comparative Performance

BitTrex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite weak performance in the last few months, the Crypto's basic indicators remain fairly strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
DSX Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days DSX Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

BitTrex Ethereum and DSX Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

BitTrex Ethereum USD  vs.  DSX Ethereum USD

BitTrex

Ethereum on BitTrex in USD

 188.78 
(2.28)  1.19%
Market Cap: 100.3 M
  

DSX

Ethereum on DSX in USD

 188.72 
(5.53)  2.85%
Market Cap: 2.8 K
 0.06 
0.031783% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to generate 1.08 times more return on investment than DSX Ethereum. However, BitTrex Ethereum is 1.08 times more volatile than DSX Ethereum USD. It trades about -0.16 of its potential returns per unit of risk. DSX Ethereum USD is currently generating about -0.18 per unit of risk. If you would invest  32,200  in BitTrex Ethereum USD on July 25, 2019 and sell it today you would lose (13,322)  from holding BitTrex Ethereum USD or give up 41.37% of portfolio value over 30 days.

Pair Corralation between BitTrex Ethereum and DSX Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for BitTrex Ethereum and DSX Ethereum

BitTrex Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum USD and DSX Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DSX Ethereum USD and BitTrex Ethereum 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 Ethereum USD are associated (or correlated) with DSX Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DSX Ethereum USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and DSX Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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