Correlation Analysis Between bingcoins Ethereum and primexbt Ethereum

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

bingcoins Ethereum USD  
88

Risk-Adjusted Performance

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

bingcoins Ethereum and primexbt Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

bingcoins Ethereum USD  vs.  primexbt Ethereum USD

bingcoins

Ethereum on bingcoins in USD

 193.47 
7.51  4.04%
Market Cap: 5.6 M
  

primexbt

Ethereum on primexbt in USD

 196.72 
10.03  5.37%
Market Cap: 75 M
(3.25)
1.68% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, bingcoins Ethereum USD is expected to generate 1.0 times more return on investment than primexbt Ethereum. However, bingcoins Ethereum USD is 1.0 times less risky than primexbt Ethereum. It trades about 0.12 of its potential returns per unit of risk. primexbt Ethereum USD is currently generating about 0.12 per unit of risk. If you would invest  0.00  in bingcoins Ethereum USD on July 19, 2019 and sell it today you would earn a total of  19,347  from holding bingcoins Ethereum USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between bingcoins Ethereum and primexbt Ethereum

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for bingcoins Ethereum and primexbt Ethereum

bingcoins Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding bingcoins 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 bingcoins 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 bingcoins 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 bingcoins Ethereum i.e. bingcoins Ethereum and primexbt Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.


 
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