Correlation Analysis Between Bitlish Ethereum and Bitfinex Ethereum

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

Bitlish Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitlish Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
Bitfinex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex 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.

Bitlish Ethereum and Bitfinex Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Bitlish Ethereum USD  vs.  Bitfinex Ethereum USD

Bitlish

Ethereum on Bitlish in USD

 187.89 
(14.28)  7.06%
Market Cap: 3.7 M
  

Bitfinex

Ethereum on Bitfinex in USD

 188.03 
(1.05)  0.56%
Market Cap: 2.2 B
(0.14)
0.07% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitlish Ethereum USD is expected to under-perform the Bitfinex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Bitlish Ethereum USD is 1.01 times less risky than Bitfinex Ethereum. The crypto trades about -0.18 of its potential returns per unit of risk. The Bitfinex Ethereum USD is currently generating about -0.18 of returns per unit of risk over similar time horizon. If you would invest  31,552  in Bitfinex Ethereum USD on July 22, 2019 and sell it today you would lose (12,644)  from holding Bitfinex Ethereum USD or give up 40.07% of portfolio value over 30 days.

Pair Corralation between Bitlish Ethereum and Bitfinex Ethereum

0.41
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy80.95%
ValuesDaily Returns

Diversification Opportunities for Bitlish Ethereum and Bitfinex Ethereum

Bitlish Ethereum USD diversification synergy

Very weak diversification

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


 
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