Correlation Analysis Between TrustDEX Bitcoin and BitBay Bitcoin

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

TrustDEX Bitcoin USD  vs.  BitBay Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 8,216 
39.60  0.48%
Market Cap: 123.4 B
  

BitBay

Bitcoin on BitBay in USD
 7,370 
112.98  1.56%
Market Cap: 238.7 K
 845.92 
10.30% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to generate 1.27 times more return on investment than BitBay Bitcoin. However, TrustDEX Bitcoin is 1.27 times more volatile than BitBay Bitcoin USD. It trades about 0.22 of its potential returns per unit of risk. BitBay Bitcoin USD is currently generating about 0.23 per unit of risk. If you would invest  667,752  in TrustDEX Bitcoin USD on June 21, 2018 and sell it today you would earn a total of  141,408  from holding TrustDEX Bitcoin USD or generate 21.18% return on investment over 30 days.

Pair Corralation between TrustDEX Bitcoin and BitBay Bitcoin

0.95
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding TrustDEX Bitcoin USD and BitBay Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitBay Bitcoin USD and TrustDEX 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 TrustDEX Bitcoin USD are associated (or correlated) with BitBay Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitBay Bitcoin USD has no effect on the direction of TrustDEX Bitcoin i.e. TrustDEX Bitcoin and BitBay Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
TrustDEX Bitcoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin
BitBay Bitcoin USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitBay Bitcoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

BitBay Bitcoin USD

Pair trading matchups for BitBay Bitcoin

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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