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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

BitTrex Ethereum USD  vs.  Bitfinex Ethereum USD

BitTrex

Ethereum on BitTrex in USD
 715.00 
7.11  0.98%
Market Cap: 3.1 B
  

Bitfinex

Ethereum on Bitfinex in USD
 713.86 
5.28  0.73%
Market Cap: 66.3 B
 1.14 
0.16% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum is expected to generate 1.01 times less return on investment than Bitfinex Ethereum. But when comparing it to its historical volatility, BitTrex Ethereum USD is 1.14 times less risky than Bitfinex Ethereum. It trades about 0.15 of its potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  60,462  in Bitfinex Ethereum USD on April 20, 2018 and sell it today you would earn a total of  11,128  from holding Bitfinex Ethereum USD or generate 18.4% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Bitfinex Ethereum

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

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 
      Returns 
BitTrex Ethereum USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Ethereum USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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