Pair Correlation 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.
 Time Horizon     30 Days    Login   to change
 BitTrex Ethereum USD  vs   Bitfinex Ethereum USD


Ethereum on BitTrex in USD
22.95  2.51%
Market Cap: 6.4 B


Ethereum on Bitfinex in USD
14.51  1.59%
Market Cap: 157.8 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum is expected to generate 1.99 times less return on investment than Bitfinex Ethereum. In addition to that, BitTrex Ethereum is 1.09 times more volatile than Bitfinex Ethereum USD. It trades about 0.01 of its total potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about 0.02 per unit of volatility. If you would invest  95,307  in Bitfinex Ethereum USD on January 21, 2018 and sell it today you would lose (1,978)  from holding Bitfinex Ethereum USD or give up 2.08% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between BitTrex Ethereum and Bitfinex Ethereum


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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

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

Bitfinex Ethereum USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.