Correlation Analysis Between coinfield Dash and Cexio Dash

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

coinfield Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield 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.
Cexio Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days Cexio 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.

coinfield Dash and Cexio Dash Volatility Contrast

 Predicted Return Density 
      Returns 

coinfield Dash USD  vs.  Cexio Dash USD

coinfield

Dash on coinfield in USD

 91.37 
(0.33)  0.36%
Market Cap: 3.8 M
  

Cexio

Dash on Cexio in USD

 91.53 
(0.47)  0.51%
Market Cap: 463 K
(0.16)
0.18% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, coinfield Dash USD is expected to generate 1.08 times more return on investment than Cexio Dash. However, coinfield Dash is 1.08 times more volatile than Cexio Dash USD. It trades about -0.21 of its potential returns per unit of risk. Cexio Dash USD is currently generating about -0.24 per unit of risk. If you would invest  17,456  in coinfield Dash USD on July 25, 2019 and sell it today you would lose (8,286)  from holding coinfield Dash USD or give up 47.47% of portfolio value over 30 days.

Pair Corralation between coinfield Dash and Cexio Dash

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for coinfield Dash and Cexio Dash

coinfield Dash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding coinfield Dash USD and Cexio Dash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Dash USD and coinfield 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 coinfield Dash USD are associated (or correlated) with Cexio Dash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Dash USD has no effect on the direction of coinfield Dash i.e. coinfield Dash and Cexio Dash go up and down completely randomly.
See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.


 
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