Correlation Analysis Between TrustDEX Bitcoin and Coinroom Bitcoin

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

TrustDEX Bitcoin USD  vs.  Coinroom Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 8,136 
183.34  2.31%
Market Cap: 123.4 B
  

Coinroom

Bitcoin on Coinroom in USD
 7,297 
470.80  6.90%
Market Cap: 12.8 B
 838.26 
10.30% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin is expected to generate 1.19 times less return on investment than Coinroom Bitcoin. But when comparing it to its historical volatility, TrustDEX Bitcoin USD is 1.12 times less risky than Coinroom Bitcoin. It trades about 0.22 of its potential returns per unit of risk. Coinroom Bitcoin USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  592,927  in Coinroom Bitcoin USD on June 21, 2018 and sell it today you would earn a total of  151,394  from holding Coinroom Bitcoin USD or generate 25.53% return on investment over 30 days.

Pair Corralation between TrustDEX Bitcoin and Coinroom Bitcoin

0.97
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 Coinroom Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom 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 Coinroom Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom Bitcoin USD has no effect on the direction of TrustDEX Bitcoin i.e. TrustDEX Bitcoin and Coinroom 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
Coinroom Bitcoin USD  
15 

Risk-Adjusted Performance

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

Coinroom Bitcoin USD

Pair trading matchups for Coinroom Bitcoin

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
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