Correlation Analysis Between Coinbase Bitcoin and TrustDEX Bitcoin |
This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and TrustDEX Bitcoin USD. You can compare the effects of market volatilities on Coinbase 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 Coinbase Bitcoin with a short position of TrustDEX Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinbase Bitcoin and TrustDEX Bitcoin.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
Coinbase Bitcoin USD vs. TrustDEX Bitcoin USD
CoinbaseBitcoin on Coinbase in USD 7,400
| TrustDEXBitcoin on TrustDEX in USD 8,149
|
Pair Volatility
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 1.06 times more return on investment than TrustDEX Bitcoin. However, Coinbase Bitcoin is 1.06 times more volatile than TrustDEX Bitcoin USD. It trades about 0.11 of its potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.1 per unit of risk. If you would invest 671,472 in Coinbase Bitcoin USD on June 18, 2018 and sell it today you would earn a total of 64,145 from holding Coinbase Bitcoin USD or generate 9.55% return on investment over 30 days.
Pair Corralation between Coinbase Bitcoin and TrustDEX Bitcoin
1.0
| Time Period | 1 Month [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase 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 Coinbase 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 Coinbase 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 Coinbase Bitcoin i.e. Coinbase Bitcoin and TrustDEX Bitcoin go up and down completely randomly.
Comparative Volatility
| Coinbase Bitcoin USD |
7 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD
Pair trading matchups for Coinbase Bitcoin
| TrustDEX Bitcoin USD |
6 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
TrustDEX Bitcoin USD
Pair trading matchups for TrustDEX Bitcoin
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