This module allows you to analyze existing cross correlation between DSX Bitcoin USD and CoinDeal Bitcoin USD. You can compare the effects of market volatilities on DSX Bitcoin and CoinDeal 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 CoinDeal Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of DSX Bitcoin and CoinDeal Bitcoin.
|Horizon||30 Days Login to change|
|DSX Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in DSX Bitcoin USD are ranked lower than 4 (%) 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 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 and CoinDeal Bitcoin Volatility Contrast
Predicted Return Density
DSX Bitcoin USD vs. CoinDeal Bitcoin USD
Assuming 30 trading days horizon, DSX Bitcoin USD is expected to generate 1.02 times more return on investment than CoinDeal Bitcoin. However, DSX Bitcoin is 1.02 times more volatile than CoinDeal Bitcoin USD. It trades about 0.06 of its potential returns per unit of risk. CoinDeal Bitcoin USD is currently generating about 0.04 per unit of risk. If you would invest 994,000 in DSX Bitcoin USD on July 21, 2019 and sell it today you would earn a total of 80,250 from holding DSX Bitcoin USD or generate 8.07% return on investment over 30 days.
Pair Corralation between DSX Bitcoin and CoinDeal Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for DSX Bitcoin and CoinDeal Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding DSX Bitcoin USD and CoinDeal Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CoinDeal 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 CoinDeal Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CoinDeal Bitcoin USD has no effect on the direction of DSX Bitcoin i.e. DSX Bitcoin and CoinDeal 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.