Pair Correlation Between Exmo Bitcoin and TrustDEX Bitcoin

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

Exmo

Bitcoin on Exmo in USD
 11,303 
(342.95)  2.94%
Market Cap: 98.6 B
 3.98 
0.03521% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

TrustDEX

Bitcoin on TrustDEX in USD
 11,299 
(85.53)  0.75%
Market Cap: 1237.5 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to generate 0.81 times more return on investment than TrustDEX Bitcoin. However, Exmo Bitcoin USD is 1.23 times less risky than TrustDEX Bitcoin. It trades about -0.07 of its potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about -0.06 per unit of risk. If you would invest  1,429,435  in Exmo Bitcoin USD on December 24, 2017 and sell it today you would lose (299,090)  from holding Exmo Bitcoin USD or give up 20.92% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Exmo Bitcoin and TrustDEX Bitcoin
0.98

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Exmo Bitcoin USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

TrustDEX Bitcoin USD

  
0 

Risk-Adjusted Performance

Over the last 30 days TrustDEX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.