Correlation Analysis Between DSX Bitcoin and CoinDeal Bitcoin

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
Symbolsvs
Check Efficiency

Comparative Performance

DSX Bitcoin USD  
44

Risk-Adjusted Performance

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  
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 and CoinDeal Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

DSX Bitcoin USD  vs.  CoinDeal Bitcoin USD

DSX

Bitcoin on DSX in USD

 10,742 
(167.99)  1.54%
Market Cap: 15.1 B
  

CoinDeal

Bitcoin on CoinDeal in USD

 10,799 
39.26  0.36%
Market Cap: 31.4 M
(56.31)
0.52% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

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

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

Diversification Opportunities for DSX Bitcoin and CoinDeal 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 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.


 
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