Correlation Analysis Between Exmo Dash and OKCoin Bitcoin

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

Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, OKCoin Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

Exmo Dash and OKCoin Bitcoin Volatility Contrast

Exmo Dash USD  vs.  OKCoin Bitcoin USD

Exmo

Dash on Exmo in USD

 100.71 
6.77  7.21%
Market Cap: 3.4 M
  

OKCoin

Bitcoin on OKCoin in USD

 10,263 
401.49  4.07%
Market Cap: 29.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Dash USD is expected to generate 45.06 times more return on investment than OKCoin Bitcoin. However, Exmo Dash is 45.06 times more volatile than OKCoin Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. OKCoin 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 OKCoin Bitcoin

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

Diversification Opportunities for Exmo Dash and OKCoin 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 OKCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin 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 OKCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Bitcoin USD has no effect on the direction of Exmo Dash i.e. Exmo Dash and OKCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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