Correlation Analysis Between Bitforex Ethereum and DSX Ethereum

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

Bitforex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Ethereum is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
DSX Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days DSX Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, DSX Ethereum is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.

Bitforex Ethereum and DSX Ethereum Volatility Contrast

Bitforex Ethereum USD  vs.  DSX Ethereum USD

Bitforex

Ethereum on Bitforex in USD

 193.22 
0.00  0.00%
Market Cap: 6.6 M
  

DSX

Ethereum on DSX in USD

 197.22 
7.22  3.80%
Market Cap: 11.4 K
(4.00)
2.07% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  19,000  in DSX Ethereum USD on August 17, 2019 and sell it today you would earn a total of  36.00  from holding DSX Ethereum USD or generate 0.19% return on investment over 30 days.

Pair Corralation between Bitforex Ethereum and DSX Ethereum

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

Diversification Opportunities for Bitforex Ethereum and DSX Ethereum

Bitforex Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitforex Ethereum USD and DSX Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DSX Ethereum USD and Bitforex Ethereum 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 Bitforex Ethereum USD are associated (or correlated) with DSX Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DSX Ethereum USD has no effect on the direction of Bitforex Ethereum i.e. Bitforex Ethereum and DSX Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.


 
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