Correlation Analysis Between EXRATES Bitcoin and DSX Bitcoin

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

EXRATES Bitcoin USD  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in EXRATES Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, EXRATES Bitcoin reported solid returns over the last few months and may actually be approaching a breakup point.
DSX Bitcoin USD  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in DSX Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, DSX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

EXRATES Bitcoin and DSX Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

EXRATES Bitcoin USD  vs.  DSX Bitcoin USD

EXRATES

Bitcoin on EXRATES in USD

 10,815 
(26.06)  0.24%
Market Cap: 1332.8 B
  

DSX

Bitcoin on DSX in USD

 10,742 
(167.99)  1.54%
Market Cap: 15.1 B
 72.96 
0.67% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Bitcoin is expected to generate 1.36 times less return on investment than DSX Bitcoin. In addition to that, EXRATES Bitcoin is 1.05 times more volatile than DSX Bitcoin USD. It trades about 0.04 of its total potential returns per unit of risk. DSX Bitcoin USD is currently generating about 0.06 per unit of volatility. If you would invest  994,000  in DSX Bitcoin USD on July 21, 2019 and sell it today you would earn a total of  80,250  from holding DSX Bitcoin USD or generate 8.07% return on investment over 30 days.

Pair Corralation between EXRATES Bitcoin and DSX Bitcoin

0.95
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for EXRATES Bitcoin and DSX Bitcoin

EXRATES Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding EXRATES Bitcoin USD and DSX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DSX Bitcoin USD and EXRATES 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 EXRATES Bitcoin USD are associated (or correlated) with DSX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DSX Bitcoin USD has no effect on the direction of EXRATES Bitcoin i.e. EXRATES Bitcoin and DSX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.


 
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