This module allows you to analyze existing cross correlation between DSX Ethereum USD and itBit Ethereum USD. You can compare the effects of market volatilities on DSX Ethereum and itBit 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 itBit Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of DSX Ethereum and itBit 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.
|itBit Ethereum USD|
Over the last 30 days itBit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
DSX Ethereum and itBit Ethereum Volatility Contrast
Predicted Return Density
DSX Ethereum USD vs. itBit Ethereum USD
Assuming 30 trading days horizon, DSX Ethereum USD is expected to under-perform the itBit Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, DSX Ethereum USD is 1.06 times less risky than itBit Ethereum. The crypto trades about -0.11 of its potential returns per unit of risk. The itBit Ethereum USD is currently generating about -0.11 of returns per unit of risk over similar time horizon. If you would invest 27,155 in itBit Ethereum USD on July 19, 2019 and sell it today you would lose (8,700) from holding itBit Ethereum USD or give up 32.04% of portfolio value over 30 days.
Pair Corralation between DSX Ethereum and itBit Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for DSX Ethereum and itBit Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding DSX Ethereum USD and itBit Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit 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 itBit Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Ethereum USD has no effect on the direction of DSX Ethereum i.e. DSX Ethereum and itBit Ethereum go up and down completely randomly.
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