Correlation Analysis Between Bitstamp Ethereum and Poloniex Ethereum

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

Bitstamp Ethereum USD  vs.  Poloniex Ethereum USD

Bitstamp

Ethereum on Bitstamp in USD
 709.99 
9.83  1.37%
Market Cap: 10 B
  

Poloniex

Ethereum on Poloniex in USD
 716.55 
3.45  0.48%
Market Cap: 1.8 B
(6.56)
0.92% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum is expected to generate 1.03 times less return on investment than Poloniex Ethereum. But when comparing it to its historical volatility, Bitstamp Ethereum USD is 1.06 times less risky than Poloniex Ethereum. It trades about 0.14 of its potential returns per unit of risk. Poloniex Ethereum USD is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  60,099  in Poloniex Ethereum USD on April 20, 2018 and sell it today you would earn a total of  11,556  from holding Poloniex Ethereum USD or generate 19.23% return on investment over 30 days.

Pair Corralation between Bitstamp Ethereum and Poloniex Ethereum

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Ethereum USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Poloniex Ethereum USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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