This module allows you to analyze existing cross correlation between BitTrex Bitcoin USD and Exmo Ethereum USD. You can compare the effects of market volatilities on BitTrex Bitcoin and Exmo 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 BitTrex Bitcoin with a short position of Exmo Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of BitTrex Bitcoin and Exmo Ethereum.
|Horizon||30 Days Login to change|
|BitTrex Bitcoin USD|
Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, BitTrex Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
|Exmo Ethereum USD|
Over the last 30 days Exmo Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively fragile essential indicators, Exmo Ethereum unveiled solid returns over the last few months and may actually be approaching a breakup point.
BitTrex Bitcoin and Exmo Ethereum Volatility Contrast
BitTrex Bitcoin USD vs. Exmo Ethereum USD
If you would invest 20,788 in Exmo Ethereum USD on August 21, 2019 and sell it today you would earn a total of 1,435 from holding Exmo Ethereum USD or generate 6.9% return on investment over 30 days.
Pair Corralation between BitTrex Bitcoin and Exmo Ethereum
|Time Period||3 Months [change]|
Diversification Opportunities for BitTrex Bitcoin and Exmo Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Bitcoin USD and Exmo Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo Ethereum USD and BitTrex Bitcoin 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 BitTrex Bitcoin USD are associated (or correlated) with Exmo Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Ethereum USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and Exmo Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.