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.
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
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.
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