Correlation Analysis Between P2PB2B Dash and Neraex Bitcoin

This module allows you to analyze existing cross correlation between P2PB2B Dash USD and Neraex Bitcoin USD. You can compare the effects of market volatilities on P2PB2B 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 P2PB2B Dash with a short position of Neraex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of P2PB2B Dash and Neraex Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

P2PB2B Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
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 weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

P2PB2B Dash and Neraex Bitcoin Volatility Contrast

P2PB2B Dash USD  vs.  Neraex Bitcoin USD

P2PB2B

Dash on P2PB2B in USD

 91.94 
(4.34)  4.51%
Market Cap: 257.8 M
  

Neraex

Bitcoin on Neraex in USD

 0.00 
0.00  0.00%
Market Cap: 11.7 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, P2PB2B Dash USD is expected to under-perform the Neraex Bitcoin. In addition to that, P2PB2B Dash is 1.28 times more volatile than Neraex Bitcoin USD. It trades about -0.71 of its total potential returns per unit of risk. Neraex Bitcoin USD is currently generating about -0.71 per unit of volatility. If you would invest  1,030,114  in Neraex Bitcoin USD on August 22, 2019 and sell it today you would lose (17,353)  from holding Neraex Bitcoin USD or give up 1.68% of portfolio value over 30 days.

Pair Corralation between P2PB2B Dash and Neraex Bitcoin

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

Diversification Opportunities for P2PB2B Dash and Neraex Bitcoin

P2PB2B Dash USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding P2PB2B 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 P2PB2B 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 P2PB2B 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 P2PB2B Dash i.e. P2PB2B Dash and Neraex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.


 
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