Correlation Analysis Between BITCOIN SERVICES and XU100

This module allows you to analyze existing cross correlation between BITCOIN SERVICES INC and XU100. You can compare the effects of market volatilities on BITCOIN SERVICES and XU100 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 BITCOIN SERVICES with a short position of XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of BITCOIN SERVICES and XU100.
Horizon     30 Days    Login   to change
Check Efficiency

Comparative Performance

 Predicted Return Density 


 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, BITCOIN SERVICES INC is expected to under-perform the XU100. In addition to that, BITCOIN SERVICES is 17.38 times more volatile than XU100. It trades about 0.0 of its total potential returns per unit of risk. XU100 is currently generating about 0.34 per unit of volatility. If you would invest  10,060,499  in XU100 on August 17, 2019 and sell it today you would earn a total of  150,263  from holding XU100 or generate 1.49% return on investment over 30 days.

Pair Corralation between BITCOIN SERVICES and XU100

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for BITCOIN SERVICES and XU100

BITCOIN SERVICES INC diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding BITCOIN SERVICES INC and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 and BITCOIN SERVICES 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 BITCOIN SERVICES INC are associated (or correlated) with XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of BITCOIN SERVICES i.e. BITCOIN SERVICES and XU100 go up and down completely randomly.
See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.