Pair Correlation Between Exmo Bitcoin and TrustDEX Bitcoin

This module allows you to analyze existing cross correlation between Exmo Bitcoin USD and TrustDEX Bitcoin USD. You can compare the effects of market volatilities on Exmo Bitcoin and TrustDEX 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 Exmo Bitcoin with a short position of TrustDEX Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Bitcoin and TrustDEX Bitcoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Exmo Bitcoin USD  vs.  TrustDEX Bitcoin USD

Exmo

Bitcoin on Exmo in USD
 8,898 
66.70  0.76%
Market Cap: 30.1 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 9,790 
83.60  0.86%
Market Cap: 192.4 B
(892.00)
10.02% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to under-perform the TrustDEX Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Exmo Bitcoin USD is 1.14 times less risky than TrustDEX Bitcoin. The crypto trades about -0.05 of its potential returns per unit of risk. The TrustDEX Bitcoin USD is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  1,092,645  in TrustDEX Bitcoin USD on March 24, 2018 and sell it today you would lose (113,645)  from holding TrustDEX Bitcoin USD or give up 10.4% of portfolio value over 30 days.

Pair Corralation between Exmo Bitcoin and TrustDEX Bitcoin

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Bitcoin USD and TrustDEX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on TrustDEX Bitcoin USD and Exmo 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 Exmo Bitcoin USD are associated (or correlated) with TrustDEX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TrustDEX Bitcoin USD has no effect on the direction of Exmo Bitcoin i.e. Exmo Bitcoin and TrustDEX Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Exmo Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
TrustDEX Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days TrustDEX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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