This module allows you to analyze existing cross correlation between CoinDeal Bitcoin USD and DSX Bitcoin USD. You can compare the effects of market volatilities on CoinDeal Bitcoin and DSX 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 CoinDeal Bitcoin with a short position of DSX Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of CoinDeal Bitcoin and DSX Bitcoin.
|Horizon||30 Days Login to change|
|CoinDeal Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in CoinDeal Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, CoinDeal Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
|DSX Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in DSX Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, DSX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
CoinDeal Bitcoin and DSX Bitcoin Volatility Contrast
Predicted Return Density
CoinDeal Bitcoin USD vs. DSX Bitcoin USD
Assuming 30 trading days horizon, CoinDeal Bitcoin is expected to generate 1.55 times less return on investment than DSX Bitcoin. But when comparing it to its historical volatility, CoinDeal Bitcoin USD is 1.01 times less risky than DSX Bitcoin. It trades about 0.04 of its potential returns per unit of risk. DSX Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 994,000 in DSX Bitcoin USD on July 21, 2019 and sell it today you would earn a total of 69,600 from holding DSX Bitcoin USD or generate 7.0% return on investment over 30 days.
Pair Corralation between CoinDeal Bitcoin and DSX Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for CoinDeal Bitcoin and DSX Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding CoinDeal Bitcoin USD and DSX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DSX Bitcoin USD and CoinDeal 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 CoinDeal Bitcoin USD are associated (or correlated) with DSX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DSX Bitcoin USD has no effect on the direction of CoinDeal Bitcoin i.e. CoinDeal Bitcoin and DSX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.