Correlation Analysis Between BitTrex Ethereum and Bitfinex Ethereum

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

BitTrex Ethereum USD  vs.  Bitfinex Ethereum USD


Ethereum on BitTrex in USD

0.56  0.27%
Market Cap: 34.9 M


Ethereum on Bitfinex in USD

1.35  0.64%
Market Cap: 4.6 B
1.78% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to generate 0.96 times more return on investment than Bitfinex Ethereum. However, BitTrex Ethereum USD is 1.04 times less risky than Bitfinex Ethereum. It trades about 0.06 of its potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about 0.0 per unit of risk. If you would invest  20,390  in BitTrex Ethereum USD on October 13, 2018 and sell it today you would earn a total of  489.00  from holding BitTrex Ethereum USD or generate 2.4% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Bitfinex Ethereum

Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


BitTrex Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex 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 BitTrex 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 BitTrex 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 BitTrex Ethereum i.e. BitTrex Ethereum and Bitfinex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
BitTrex Ethereum USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Ethereum USD  

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.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

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.