Correlation Analysis Between TrustDEX Bitcoin and Cexio Bitcoin

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

TrustDEX Bitcoin USD  vs.  Cexio Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 7,178 
208.16  2.82%
Market Cap: 29.7 B
  

Cexio

Bitcoin on Cexio in USD
 6,558 
124.40  1.86%
Market Cap: 5.2 B
 620.07 
8.64% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to generate 1.15 times more return on investment than Cexio Bitcoin. However, TrustDEX Bitcoin is 1.15 times more volatile than Cexio Bitcoin USD. It trades about -0.12 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about -0.16 per unit of risk. If you would invest  823,680  in TrustDEX Bitcoin USD on May 23, 2018 and sell it today you would lose (105,853)  from holding TrustDEX Bitcoin USD or give up 12.85% of portfolio value over 30 days.

Pair Corralation between TrustDEX Bitcoin and Cexio Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Cexio Bitcoin USD  
0 

Risk-Adjusted Performance

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

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