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|
|DSX Bitcoin USD|
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|
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
DSX Bitcoin USD vs. Coinsbit Bitcoin USD
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
|Time Period||2 Months [change]|
Diversification Opportunities for DSX Bitcoin and Coinsbit Bitcoin
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.