Correlation Analysis Between BitTrex Bitcoin and Exmo Ethereum

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
Symbolsvs
Check Efficiency

Comparative Performance

BitTrex Bitcoin USD  
00

Risk-Adjusted Performance

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  
00

Risk-Adjusted Performance

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

BitTrex

Bitcoin on BitTrex in USD

 10,106 
0.00  0.00%
Market Cap: 70.6 B
  

Exmo

Ethereum on Exmo in USD

 220.74 
0.00  0.00%
Market Cap: 126.4 M
 Performance (%) 
      Timeline 

Pair Volatility

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

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy33.33%
ValuesDaily Returns

Diversification Opportunities for BitTrex Bitcoin and Exmo Ethereum

BitTrex Bitcoin USD diversification synergy

Pay attention

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.


 
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