Correlation Analysis Between Exmo Dash and Bitfinex Bitcoin

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

Comparative Performance

Exmo Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, Exmo Dash sustained solid returns over the last few months and may actually be approaching a breakup point.
Bitfinex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Bitcoin is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

Exmo Dash and Bitfinex Bitcoin Volatility Contrast

Exmo Dash USD  vs.  Bitfinex Bitcoin USD

Exmo

Dash on Exmo in USD

 97.75 
0.00  0.00%
Market Cap: 3.4 M
  

Bitfinex

Bitcoin on Bitfinex in USD

 10,160 
0.00  0.00%
Market Cap: 304.6 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  9,394  in Exmo Dash USD on August 21, 2019 and sell it today you would earn a total of  554.00  from holding Exmo Dash USD or generate 5.9% return on investment over 30 days.

Pair Corralation between Exmo Dash and Bitfinex Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy33.33%
ValuesDaily Returns

Diversification Opportunities for Exmo Dash and Bitfinex Bitcoin

Exmo Dash USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Dash USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and Exmo Dash 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 Dash USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of Exmo Dash i.e. Exmo Dash and Bitfinex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.


 
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