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
BitTrex Ethereum USD vs Bitfinex Ethereum USD
Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to generate 1.23 times more return on investment than Bitfinex Ethereum. However, BitTrex Ethereum is 1.23 times more volatile than Bitfinex Ethereum USD. It trades about 0.31 of its potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about 0.37 per unit of risk. If you would invest 31,418 in BitTrex Ethereum USD on November 12, 2017 and sell it today you would earn a total of 20,682 from holding BitTrex Ethereum USD or generate 65.83% return on investment over 30 days.
|Time Period||1 Month [change]|
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.
Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.