Correlation Analysis Between DSX Bitcoin and Coinsbit Bitcoin

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

Comparative Performance

DSX Bitcoin USD  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in DSX Bitcoin USD are ranked lower than 5 (%) 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.
Coinsbit Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinsbit Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, Coinsbit Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.

DSX Bitcoin and Coinsbit Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

DSX Bitcoin USD  vs.  Coinsbit Bitcoin USD

DSX

Bitcoin on DSX in USD

 10,334 
87.41  0.85%
Market Cap: 15.1 B
  

Coinsbit

Bitcoin on Coinsbit in USD

 10,350 
95.00  0.93%
Market Cap: 135.4 B
(15.78)
0.15% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DSX Bitcoin is expected to generate 1.0 times less return on investment than Coinsbit Bitcoin. But when comparing it to its historical volatility, DSX Bitcoin USD is 1.23 times less risky than Coinsbit Bitcoin. It trades about 0.08 of its potential returns per unit of risk. Coinsbit Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  955,886  in Coinsbit Bitcoin USD on July 19, 2019 and sell it today you would earn a total of  85,114  from holding Coinsbit Bitcoin USD or generate 8.9% return on investment over 30 days.

Pair Corralation between DSX Bitcoin and Coinsbit Bitcoin

0.88
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for DSX Bitcoin and Coinsbit Bitcoin

DSX Bitcoin USD diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding DSX Bitcoin USD and Coinsbit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinsbit 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 Coinsbit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinsbit Bitcoin USD has no effect on the direction of DSX Bitcoin i.e. DSX Bitcoin and Coinsbit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.


 
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