Correlation Analysis Between Bitfinex Dash and P2PB2B Dash

This module allows you to analyze existing cross correlation between Bitfinex Dash USD and P2PB2B Dash USD. You can compare the effects of market volatilities on Bitfinex Dash and P2PB2B Dash 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 Dash with a short position of P2PB2B Dash. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Dash and P2PB2B Dash.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Bitfinex Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
P2PB2B Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Bitfinex Dash and P2PB2B Dash Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Dash USD  vs.  P2PB2B Dash USD

Bitfinex

Dash on Bitfinex in USD

 94.39 
2.73  2.98%
Market Cap: 52.1 M
  

P2PB2B

Dash on P2PB2B in USD

 93.93 
0.12  0.13%
Market Cap: 361.8 M
 0.46 
0.49% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Dash USD is expected to generate 0.98 times more return on investment than P2PB2B Dash. However, Bitfinex Dash USD is 1.02 times less risky than P2PB2B Dash. It trades about -0.2 of its potential returns per unit of risk. P2PB2B Dash USD is currently generating about -0.21 per unit of risk. If you would invest  16,861  in Bitfinex Dash USD on July 21, 2019 and sell it today you would lose (7,465)  from holding Bitfinex Dash USD or give up 44.27% of portfolio value over 30 days.

Pair Corralation between Bitfinex Dash and P2PB2B Dash

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Dash and P2PB2B Dash

Bitfinex Dash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Dash USD and P2PB2B Dash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Dash USD and Bitfinex Dash 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 Dash USD are associated (or correlated) with P2PB2B Dash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Dash USD has no effect on the direction of Bitfinex Dash i.e. Bitfinex Dash and P2PB2B Dash go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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