Correlation Analysis Between DSX Bitcoin and Kraken Bitcoin

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

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.
Kraken Bitcoin USD  
2525

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Bitcoin USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Kraken Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

DSX Bitcoin and Kraken Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

DSX Bitcoin USD  vs.  Kraken Bitcoin USD

DSX

Bitcoin on DSX in USD

 7,213 
(671.48)  8.52%
Market Cap: 110.2 M
  

Kraken

Bitcoin on Kraken in USD

 7,267 
(666.00)  8.40%
Market Cap: 259.5 B
(54.18)
0.75% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DSX Bitcoin USD is expected to generate 1.01 times more return on investment than Kraken Bitcoin. However, DSX Bitcoin is 1.01 times more volatile than Kraken Bitcoin USD. It trades about 0.39 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about 0.38 per unit of risk. 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 DSX Bitcoin and Kraken Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for DSX Bitcoin and Kraken Bitcoin

DSX Bitcoin USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding DSX Bitcoin USD and Kraken Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Bitcoin USD and DSX 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 DSX Bitcoin USD are associated (or correlated) with Kraken Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Bitcoin USD has no effect on the direction of DSX Bitcoin i.e. DSX Bitcoin and Kraken Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.


 
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