Pair Correlation Between TrustDEX Bitcoin and Bitstamp Bitcoin

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

TrustDEX Bitcoin USD  vs.  Bitstamp Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 9,680 
388.21  3.86%
Market Cap: 127.9 B
  

Bitstamp

Bitcoin on Bitstamp in USD
 8,836 
304.01  3.33%
Market Cap: 27.9 B
 844.02 
8.72% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to under-perform the Bitstamp Bitcoin. In addition to that, TrustDEX Bitcoin is 1.01 times more volatile than Bitstamp Bitcoin USD. It trades about -0.01 of its total potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about 0.01 per unit of volatility. If you would invest  955,726  in Bitstamp Bitcoin USD on March 26, 2018 and sell it today you would lose (42,311)  from holding Bitstamp Bitcoin USD or give up 4.43% of portfolio value over 30 days.

Pair Corralation between TrustDEX Bitcoin and Bitstamp Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
TrustDEX Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days TrustDEX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitstamp Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.