Correlation Analysis Between DSX Bitcoin and Coinbase Bitcoin

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

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 somewhat fragile basic indicators, DSX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Coinbase Bitcoin USD  
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Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Coinbase Bitcoin is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the management.

DSX Bitcoin and Coinbase Bitcoin Volatility Contrast

DSX Bitcoin USD  vs.  Coinbase Bitcoin USD

DSX

Bitcoin on DSX in USD

 10,077 
141.00  1.42%
Market Cap: 220 M
  

Coinbase

Bitcoin on Coinbase in USD

 10,044 
177.30  1.80%
Market Cap: 1386.9 B
 32.80 
0.33% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DSX Bitcoin USD is expected to generate 5.88 times more return on investment than Coinbase Bitcoin. However, DSX Bitcoin is 5.88 times more volatile than Coinbase Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.71 per unit of risk. If you would invest  993,581  in DSX Bitcoin USD on August 20, 2019 and sell it today you would earn a total of  6,869  from holding DSX Bitcoin USD or generate 0.69% return on investment over 30 days.

Pair Corralation between DSX Bitcoin and Coinbase Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for DSX Bitcoin and Coinbase Bitcoin

DSX Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding DSX Bitcoin USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase 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 Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of DSX Bitcoin i.e. DSX Bitcoin and Coinbase Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.


 
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