Correlation Analysis Between Bitstamp Ethereum and Coinroom Ethereum

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

Comparative Performance

Bitstamp Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Coinroom Ethereum USD  
0

Risk-Adjusted Performance

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

Bitstamp Ethereum and Coinroom Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Bitstamp Ethereum USD  vs.  Coinroom Ethereum USD

Bitstamp

Ethereum on Bitstamp in USD

 104.33 
0.00  0.00%
Market Cap: 36 M
  

Coinroom

Ethereum on Coinroom in USD

 103.42 
(1.68)  1.60%
Market Cap: 1.7 M
 0.91 
0.87% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to under-perform the Coinroom Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Ethereum USD is 1.31 times less risky than Coinroom Ethereum. The crypto trades about -0.18 of its potential returns per unit of risk. The Coinroom Ethereum USD is currently generating about -0.11 of returns per unit of risk over similar time horizon. If you would invest  20,093  in Coinroom Ethereum USD on November 19, 2018 and sell it today you would lose (9,583)  from holding Coinroom Ethereum USD or give up 47.69% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and Coinroom Ethereum

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for Bitstamp Ethereum and Coinroom Ethereum

Bitstamp Ethereum USD diversification synergy

Almost no diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com