Correlation Analysis Between CoinDeal Bitcoin and DSX Bitcoin

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
Symbolsvs
Check Efficiency

Comparative Performance

CoinDeal Bitcoin USD  
22

Risk-Adjusted Performance

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  
33

Risk-Adjusted Performance

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 
      Returns 

CoinDeal Bitcoin USD  vs.  DSX Bitcoin USD

CoinDeal

Bitcoin on CoinDeal in USD

 10,799 
39.26  0.36%
Market Cap: 31.4 M
  

DSX

Bitcoin on DSX in USD

 10,742 
(167.99)  1.54%
Market Cap: 15.1 B
 56.31 
0.52% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

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

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for CoinDeal Bitcoin and DSX Bitcoin

CoinDeal Bitcoin USD diversification synergy

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.


 
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