Correlation Analysis Between Bitforex Ethereum and Binance Ethereum

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

Comparative Performance

Bitforex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Ethereum is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
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.

Bitforex Ethereum and Binance Ethereum Volatility Contrast

Bitforex Ethereum USD  vs.  Binance Ethereum USD

Bitforex

Ethereum on Bitforex in USD

 189.62 
0.00  0.00%
Market Cap: 16.8 M
  

Binance

Ethereum on Binance in USD

 189.23 
0.00  0.00%
Market Cap: 496.1 K
 0.39 
0.21% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  18,923  in Binance Ethereum USD on July 26, 2019 and sell it today you would earn a total of  0.00  from holding Binance Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitforex Ethereum and Binance Ethereum

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitforex Ethereum and Binance Ethereum

Bitforex Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitforex Ethereum USD and Binance Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Binance Ethereum USD and Bitforex 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 Bitforex Ethereum USD are associated (or correlated) with Binance Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Binance Ethereum USD has no effect on the direction of Bitforex Ethereum i.e. Bitforex Ethereum and Binance Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
Search macroaxis.com