This module allows you to analyze existing cross correlation between DSX Bitcoin USD and ExtStock Bitcoin USD. You can compare the effects of market volatilities on DSX Bitcoin and ExtStock 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 ExtStock Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of DSX Bitcoin and ExtStock Bitcoin.
|Horizon||30 Days Login to change|
|DSX Bitcoin USD|
Over the last 30 days DSX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
|ExtStock Bitcoin USD|
Over the last 30 days ExtStock Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
DSX Bitcoin and ExtStock Bitcoin Volatility Contrast
Predicted Return Density
DSX Bitcoin USD vs. ExtStock Bitcoin USD
Assuming 30 trading days horizon, DSX Bitcoin USD is expected to generate 0.9 times more return on investment than ExtStock Bitcoin. However, DSX Bitcoin USD is 1.11 times less risky than ExtStock Bitcoin. It trades about -0.02 of its potential returns per unit of risk. ExtStock Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest 1,139,500 in DSX Bitcoin USD on July 24, 2019 and sell it today you would lose (126,952) from holding DSX Bitcoin USD or give up 11.14% of portfolio value over 30 days.
Pair Corralation between DSX Bitcoin and ExtStock Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for DSX Bitcoin and ExtStock Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding DSX Bitcoin USD and ExtStock Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ExtStock 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 ExtStock Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ExtStock Bitcoin USD has no effect on the direction of DSX Bitcoin i.e. DSX Bitcoin and ExtStock Bitcoin go up and down completely randomly.
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