Pair Correlation Between TrustDEX Bitcoin and Bitfinex Bitcoin

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

TrustDEX

Bitcoin on TrustDEX in USD
 12,321 
(57.2)  0.46%
Market Cap: 703.3 B
 631.1 

Bitfinex

Bitcoin on Bitfinex in USD
 11,690 
386  3.41%
Market Cap: 13064.5 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to generate 20.22 times more return on investment than Bitfinex Bitcoin. However, TrustDEX Bitcoin is 20.22 times more volatile than Bitfinex Bitcoin USD. It trades about 0.18 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.05 per unit of risk. If you would invest  0.00  in TrustDEX Bitcoin USD on December 20, 2017 and sell it today you would earn a total of  1,248,500  from holding TrustDEX Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between TrustDEX Bitcoin and Bitfinex Bitcoin
1.0

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.77%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 

TrustDEX Bitcoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin

Bitfinex Bitcoin USD

  
0 

Risk-Adjusted Performance

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

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin