This module allows you to analyze existing cross correlation between itBit Bitcoin USD and TrustDEX Bitcoin USD. You can compare the effects of market volatilities on itBit 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 itBit Bitcoin with a short position of TrustDEX Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of itBit Bitcoin and TrustDEX Bitcoin.
Assuming 30 trading days horizon, itBit Bitcoin is expected to generate 1.01 times less return on investment than TrustDEX Bitcoin. In addition to that, itBit Bitcoin is 1.01 times more volatile than TrustDEX Bitcoin USD. It trades about 0.26 of its total potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.26 per unit of volatility. If you would invest 679,195 in TrustDEX Bitcoin USD on June 23, 2018 and sell it today you would earn a total of 168,645 from holding TrustDEX Bitcoin USD or generate 24.83% return on investment over 30 days.
Pair Corralation between itBit Bitcoin and TrustDEX Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding itBit 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 itBit 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 itBit 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 itBit Bitcoin i.e. itBit Bitcoin and TrustDEX Bitcoin go up and down completely randomly.
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