Correlation Analysis Between Exmo Dash and Neraex Bitcoin

This module allows you to analyze existing cross correlation between Exmo Dash USD and Neraex Bitcoin USD. You can compare the effects of market volatilities on Exmo Dash and Neraex 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 Neraex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Dash and Neraex Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
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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.
Neraex Bitcoin USD  
00

Risk-Adjusted Performance

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

Exmo Dash and Neraex Bitcoin Volatility Contrast

Exmo Dash USD  vs.  Neraex Bitcoin USD

Exmo

Dash on Exmo in USD

 100.71 
6.77  7.21%
Market Cap: 3.4 M
  

Neraex

Bitcoin on Neraex in USD

 10,227 
121.83  1.21%
Market Cap: 11.7 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Dash USD is expected to generate 5.98 times more return on investment than Neraex Bitcoin. However, Exmo Dash is 5.98 times more volatile than Neraex Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. Neraex Bitcoin USD is currently generating about 0.71 per unit of risk. If you would invest  9,394  in Exmo Dash USD on August 20, 2019 and sell it today you would earn a total of  677.00  from holding Exmo Dash USD or generate 7.21% return on investment over 30 days.

Pair Corralation between Exmo Dash and Neraex Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Dash and Neraex 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 Neraex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Neraex 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 Neraex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neraex Bitcoin USD has no effect on the direction of Exmo Dash i.e. Exmo Dash and Neraex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.


 
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