Pair Correlation Between Bitfinex Recovery and Cexio Ethereum

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

Bitfinex Recovery Right Tokens  vs.  Cexio Ethereum USD

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.06072 
0.01038  14.60%
Market Cap: 15 K
  

Cexio

Ethereum on Cexio in USD
 634.44 
75.32  10.61%
Market Cap: 2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to generate 1.57 times more return on investment than Cexio Ethereum. However, Bitfinex Recovery is 1.57 times more volatile than Cexio Ethereum USD. It trades about 0.02 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.06 per unit of risk. If you would invest  7.15  in Bitfinex Recovery Right Tokens USD on March 26, 2018 and sell it today you would lose (0.58)  from holding Bitfinex Recovery Right Tokens USD or give up 8.11% of portfolio value over 30 days.

Pair Corralation between Bitfinex Recovery and Cexio Ethereum

0.55
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Recovery Right  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Cexio Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions
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See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.