Pair Correlation Between Bitfinex Ethereum and Tidex Ethereum

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

Bitfinex

Ethereum on Bitfinex in USD
 715.5 
(0.96)  0.13%
Market Cap: 2.2 B
 65.47 

Tidex

Ethereum on Tidex in USD
 650.03 
(0.002042)  0.0003%
Market Cap: 71.7 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  34,750  in Bitfinex Ethereum USD on November 17, 2017 and sell it today you would earn a total of  36,896  from holding Bitfinex Ethereum USD or generate 106.18% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitfinex Ethereum and Tidex Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.67%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex 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 Bitfinex 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 Bitfinex 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 Bitfinex Ethereum i.e. Bitfinex Ethereum and Tidex Ethereum go up and down completely randomly.

Comparative Volatility

Bitfinex Ethereum USD

  
25 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.