Correlation Analysis Between Bitforex Ethereum and Ethfinex Ethereum

This module allows you to analyze existing cross correlation between Bitforex Ethereum USD and Ethfinex Ethereum USD. You can compare the effects of market volatilities on Bitforex Ethereum and Ethfinex 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 Ethfinex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitforex Ethereum and Ethfinex 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.
Ethfinex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Ethfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Bitforex Ethereum and Ethfinex Ethereum Volatility Contrast

Bitforex Ethereum USD  vs.  Ethfinex Ethereum USD

Bitforex

Ethereum on Bitforex in USD

 184.73 
0.00  0.00%
Market Cap: 10.4 M
  

Ethfinex

Ethereum on Ethfinex in USD

 185.49 
0.35  0.19%
Market Cap: 67.8 M
(0.76)
0.41% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  18,473  in Bitforex Ethereum USD on July 19, 2019 and sell it today you would earn a total of  0.00  from holding Bitforex Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitforex Ethereum and Ethfinex Ethereum

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.27%
ValuesDaily Returns

Diversification Opportunities for Bitforex Ethereum and Ethfinex 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 Ethfinex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Ethfinex 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 Ethfinex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ethfinex Ethereum USD has no effect on the direction of Bitforex Ethereum i.e. Bitforex Ethereum and Ethfinex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.


 
Search macroaxis.com