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
Symbolsvs

Coinbase Bitcoin USD  vs.  TrustDEX Bitcoin USD

Coinbase

Bitcoin on Coinbase in USD
 7,400 
43.82  0.60%
Market Cap: 139.3 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 8,149 
123.17  1.53%
Market Cap: 123.4 B
(748.81)
10.12% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

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 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 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

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
7 

Risk-Adjusted Performance

Compared 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.
TrustDEX Bitcoin USD  
6 

Risk-Adjusted Performance

Compared 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.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1198.8

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.