Correlation Analysis Between TrustDEX Bitcoin and Exmo Bitcoin

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

TrustDEX Bitcoin USD  vs.  Exmo Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 6,994 
98.31  1.43%
Market Cap: 28.7 B
  

Exmo

Bitcoin on Exmo in USD
 6,368 
68.19  1.08%
Market Cap: 9.5 B
 626.25 
8.95% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to generate 1.21 times more return on investment than Exmo Bitcoin. However, TrustDEX Bitcoin is 1.21 times more volatile than Exmo Bitcoin USD. It trades about -0.02 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.07 per unit of risk. If you would invest  718,300  in TrustDEX Bitcoin USD on June 15, 2018 and sell it today you would lose (18,856)  from holding TrustDEX Bitcoin USD or give up 2.63% of portfolio value over 30 days.

Pair Corralation between TrustDEX Bitcoin and Exmo Bitcoin

0.97
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 TrustDEX Bitcoin USD and Exmo Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo 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 Exmo Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Bitcoin USD has no effect on the direction of TrustDEX Bitcoin i.e. TrustDEX Bitcoin and Exmo 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.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin
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.

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1188.82

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.