Correlation Analysis Between Binance Ethereum and primexbt Ethereum

This module allows you to analyze existing cross correlation between Binance Ethereum USD and primexbt Ethereum USD. You can compare the effects of market volatilities on Binance 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 Binance Ethereum with a short position of primexbt Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Binance Ethereum and primexbt Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
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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.
primexbt Ethereum USD  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in primexbt Ethereum USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, primexbt Ethereum sustained solid returns over the last few months and may actually be approaching a breakup point.

Binance Ethereum and primexbt Ethereum Volatility Contrast

Binance Ethereum USD  vs.  primexbt Ethereum USD

Binance

Ethereum on Binance in USD

 198.93 
0.00  0.00%
Market Cap: 496.1 K
  

primexbt

Ethereum on primexbt in USD

 197.37 
10.57  5.66%
Market Cap: 1.8 B
 1.56 
0.78% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in primexbt Ethereum USD on July 23, 2019 and sell it today you would earn a total of  18,680  from holding primexbt Ethereum USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between Binance Ethereum and primexbt Ethereum

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.67%
ValuesDaily Returns

Diversification Opportunities for Binance Ethereum and primexbt 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 primexbt Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on primexbt 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 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 Binance Ethereum i.e. Binance Ethereum and primexbt Ethereum go up and down completely randomly.
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