Correlation Analysis Between DSX Bitcoin and BitTrex Bitcoin

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

DSX Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days DSX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
BitTrex Bitcoin USD  
00

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. Inspite fairly strong basic indicators, BitTrex Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

DSX Bitcoin and BitTrex Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

DSX Bitcoin USD  vs.  BitTrex Bitcoin USD

DSX

Bitcoin on DSX in USD

 10,057 
(343.83)  3.31%
Market Cap: 15.1 B
  

BitTrex

Bitcoin on BitTrex in USD

 10,060 
(128.50)  1.26%
Market Cap: 29.7 B
(3.07)
0.030526% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DSX Bitcoin USD is expected to under-perform the BitTrex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, DSX Bitcoin USD is 1.23 times less risky than BitTrex Bitcoin. The crypto trades about -0.02 of its potential returns per unit of risk. The BitTrex Bitcoin USD is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest  1,113,486  in BitTrex Bitcoin USD on July 26, 2019 and sell it today you would lose (107,472)  from holding BitTrex Bitcoin USD or give up 9.65% of portfolio value over 30 days.

Pair Corralation between DSX Bitcoin and BitTrex Bitcoin

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for DSX Bitcoin and BitTrex Bitcoin

DSX Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding DSX Bitcoin 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 DSX 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 DSX Bitcoin 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 DSX Bitcoin i.e. DSX Bitcoin and BitTrex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
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