Correlation Analysis Between Cexio Dash and BitTrex Bitcoin

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

Comparative Performance

Cexio Dash USD  
4

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Dash USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
BitTrex Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Cexio Dash and BitTrex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Dash USD  vs.  BitTrex Bitcoin USD

Cexio

Dash on Cexio in USD

 81.01 
(1.62)  1.96%
Market Cap: 78.9 K
  

BitTrex

Bitcoin on BitTrex in USD

 3,601 
9.77  0.27%
Market Cap: 7.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Dash USD is expected to generate 1.68 times more return on investment than BitTrex Bitcoin. However, Cexio Dash is 1.68 times more volatile than BitTrex Bitcoin USD. It trades about 0.07 of its potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about -0.01 per unit of risk. If you would invest  7,407  in Cexio Dash USD on January 18, 2019 and sell it today you would earn a total of  694.00  from holding Cexio Dash USD or generate 9.37% return on investment over 30 days.

Pair Corralation between Cexio Dash and BitTrex Bitcoin

0.67
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.5%
ValuesDaily Returns

Diversification Opportunities for Cexio Dash and BitTrex Bitcoin

Cexio Dash USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Cexio Dash USD and BitTrex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Bitcoin USD and Cexio 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 Cexio Dash USD are associated (or correlated) with BitTrex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Bitcoin USD has no effect on the direction of Cexio Dash i.e. Cexio Dash and BitTrex Bitcoin go up and down completely randomly.

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Cexio Dash USD

Pair trading matchups for Cexio Dash

See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.


 
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