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|
|Bitfinex Dash USD|
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|
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
Bitfinex Dash USD vs. P2PB2B Dash USD
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
|Time Period||2 Months [change]|
Diversification Opportunities for Bitfinex Dash and P2PB2B Dash
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.