Pair Correlation Between Bitfinex Bitcoin and TrustDEX Bitcoin

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

Bitfinex Bitcoin USD  vs.  TrustDEX Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD
 8,888 
34.00  0.38%
Market Cap: 2466.2 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 9,732 
44.06  0.45%
Market Cap: 192.4 B
(844.17)
9.50% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 0.98 times more return on investment than TrustDEX Bitcoin. However, Bitfinex Bitcoin USD is 1.02 times less risky than TrustDEX Bitcoin. It trades about -0.02 of its potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest  989,620  in Bitfinex Bitcoin USD on March 23, 2018 and sell it today you would lose (104,250)  from holding Bitfinex Bitcoin USD or give up 10.53% of portfolio value over 30 days.

Pair Corralation between Bitfinex Bitcoin and TrustDEX Bitcoin

0.9
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex 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 Bitfinex 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 Bitfinex 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 Bitfinex Bitcoin i.e. Bitfinex Bitcoin and TrustDEX Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
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
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

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1087.7

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See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.