Correlation Analysis Between DSX Ethereum and BitTrex Ethereum

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

Comparative Performance

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 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 and BitTrex Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

DSX Ethereum USD  vs.  BitTrex Ethereum USD

DSX

Ethereum on DSX in USD

 186.61 
(2.11)  1.12%
Market Cap: 2.8 K
  

BitTrex

Ethereum on BitTrex in USD

 185.89 
(0.57)  0.31%
Market Cap: 14.7 M
 0.72 
0.39% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DSX Ethereum USD is expected to generate 0.94 times more return on investment than BitTrex Ethereum. However, DSX Ethereum USD is 1.06 times less risky than BitTrex Ethereum. It trades about -0.17 of its potential returns per unit of risk. BitTrex Ethereum USD is currently generating about -0.17 per unit of risk. If you would invest  30,710  in DSX Ethereum USD on July 22, 2019 and sell it today you would lose (12,501)  from holding DSX Ethereum USD or give up 40.71% of portfolio value over 30 days.

Pair Corralation between DSX Ethereum and BitTrex Ethereum

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

Diversification Opportunities for DSX Ethereum and BitTrex Ethereum

DSX Ethereum USD diversification synergy

Almost no diversification

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