Correlation Analysis Between Binance Ethereum and itBit Ethereum

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

Comparative Performance

Binance Ethereum USD  
00

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Over the last 30 days itBit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Binance Ethereum and itBit Ethereum Volatility Contrast

Binance Ethereum USD  vs.  itBit Ethereum USD

Binance

Ethereum on Binance in USD

 198.93 
0.00  0.00%
Market Cap: 575.2 K
  

itBit

Ethereum on itBit in USD

 187.45 
(1.45)  0.77%
Market Cap: 202.8 M
 11.48 
5.77% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  19,893  in Binance Ethereum USD on July 22, 2019 and sell it today you would earn a total of  0.00  from holding Binance Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Binance Ethereum and itBit Ethereum

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.38%
ValuesDaily Returns

Diversification Opportunities for Binance Ethereum and itBit Ethereum

Binance Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Binance Ethereum USD and itBit Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit Ethereum USD and Binance 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 Binance Ethereum USD are associated (or correlated) with itBit Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Ethereum USD has no effect on the direction of Binance Ethereum i.e. Binance Ethereum and itBit Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
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