This module allows you to analyze existing cross correlation between DSX Ethereum USD and Coinbase Ethereum USD. You can compare the effects of market volatilities on DSX Ethereum and Coinbase 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 Coinbase Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of DSX Ethereum and Coinbase Ethereum.
|Horizon||30 Days Login to change|
|DSX Ethereum USD|
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.
|Coinbase Ethereum USD|
Over the last 30 days Coinbase Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of weak performance in the last few months, the Crypto's forward-looking signals remain relatively invariable which may send shares a bit higher in September 2019. The latest agitation may also be a sign of long running up-swing for the entity management.
DSX Ethereum and Coinbase Ethereum Volatility Contrast
Predicted Return Density
DSX Ethereum USD vs. Coinbase Ethereum USD
Assuming 30 trading days horizon, DSX Ethereum USD is expected to under-perform the Coinbase Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, DSX Ethereum USD is 1.01 times less risky than Coinbase Ethereum. The crypto trades about -0.12 of its potential returns per unit of risk. The Coinbase Ethereum USD is currently generating about -0.11 of returns per unit of risk over similar time horizon. If you would invest 29,261 in Coinbase Ethereum USD on July 20, 2019 and sell it today you would lose (9,320) from holding Coinbase Ethereum USD or give up 31.85% of portfolio value over 30 days.
Pair Corralation between DSX Ethereum and Coinbase Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for DSX Ethereum and Coinbase Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding DSX Ethereum USD and Coinbase Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase 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 Coinbase Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Ethereum USD has no effect on the direction of DSX Ethereum i.e. DSX Ethereum and Coinbase Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.