This module allows you to analyze existing cross correlation between TrustDEX Bitcoin USD and itBit Bitcoin USD. You can compare the effects of market volatilities on TrustDEX Bitcoin and itBit 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 itBit Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of TrustDEX Bitcoin and itBit Bitcoin.
Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to generate 0.95 times more return on investment than itBit Bitcoin. However, TrustDEX Bitcoin USD is 1.05 times less risky than itBit Bitcoin. It trades about 0.13 of its potential returns per unit of risk. itBit Bitcoin USD is currently generating about 0.1 per unit of risk. If you would invest 737,990 in TrustDEX Bitcoin USD on June 19, 2018 and sell it today you would earn a total of 85,800 from holding TrustDEX Bitcoin USD or generate 11.63% return on investment over 30 days.
Pair Corralation between TrustDEX Bitcoin and itBit Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding TrustDEX Bitcoin USD and itBit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit 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 itBit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Bitcoin USD has no effect on the direction of TrustDEX Bitcoin i.e. TrustDEX Bitcoin and itBit Bitcoin go up and down completely randomly.
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