Correlation Analysis Between Binanceus Ethereum and Primexbt Ethereum

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

Comparative Performance

binanceus Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days binanceus 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 January 2020. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
primexbt Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days primexbt Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Primexbt Ethereum is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Binanceus Ethereum and Primexbt Ethereum Volatility Contrast

binanceus Ethereum USD  vs.  primexbt Ethereum USD

binanceus

Ethereum on binanceus in USD

 142.74 
(2.02)   1.4 
Market Cap: 626.4 K
  

primexbt

Ethereum on primexbt in USD

 142.47 
(2.86)   1.97 
Market Cap: 115.3 M
 0.27 
0.19  Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  14,533  in primexbt Ethereum USD on November 14, 2019 and sell it today you would earn a total of  0.00  from holding primexbt Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Binanceus Ethereum and Primexbt Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for Binanceus Ethereum and Primexbt Ethereum

binanceus Ethereum USD diversification synergy

Pay attention

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