Correlation Analysis Between Exmo Bitcoin and DSX Bitcoin

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

Exmo Bitcoin USD  
2727

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Exmo Bitcoin unveiled solid returns over the last few months and may actually be approaching a breakup point.
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.

Exmo Bitcoin and DSX Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo Bitcoin USD  vs.  DSX Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 7,035 
(793.38)  10.13%
Market Cap: 26.3 B
  

DSX

Bitcoin on DSX in USD

 7,213 
(671.48)  8.52%
Market Cap: 110.2 M
(177.90)
2.53% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin is expected to generate 1.1 times less return on investment than DSX Bitcoin. But when comparing it to its historical volatility, Exmo Bitcoin USD is 1.13 times less risky than DSX Bitcoin. It trades about 0.4 of its potential returns per unit of risk. DSX Bitcoin USD is currently generating about 0.39 of returns per unit of risk over similar time horizon. 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 Exmo Bitcoin and DSX Bitcoin

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for Exmo Bitcoin and DSX Bitcoin

Exmo Bitcoin USD diversification synergy

No risk reduction

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