This module allows you to analyze existing cross correlation between BitBay Ethereum USD and Tidex Ethereum USD. You can compare the effects of market volatilities on BitBay Ethereum and Tidex 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 BitBay Ethereum with a short position of Tidex Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of BitBay Ethereum
and Tidex Ethereum
BitBay Ethereum USD vs Tidex Ethereum USD
If you would invest 29,345 in BitBay Ethereum USD on November 15, 2017 and sell it today you would earn a total of 38,755 from holding BitBay Ethereum USD or generate 132.07% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding BitBay Ethereum USD and Tidex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Tidex Ethereum USD and BitBay 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 BitBay Ethereum USD are associated (or correlated) with Tidex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tidex Ethereum USD has no effect on the direction of BitBay Ethereum i.e. BitBay Ethereum and Tidex Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in BitBay Ethereum USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.