Correlation Analysis Between BitTrex Ethereum and Exmo Ethereum

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

BitTrex Ethereum USD  vs.  Exmo Ethereum USD

BitTrex

Ethereum on BitTrex in USD
 712.00 
10.55  1.50%
Market Cap: 3.1 B
  

Exmo

Ethereum on Exmo in USD
 704.18 
4.18  0.60%
Market Cap: 468.2 M
 7.82 
1.10% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to generate 0.98 times more return on investment than Exmo Ethereum. However, BitTrex Ethereum USD is 1.02 times less risky than Exmo Ethereum. It trades about 0.14 of its potential returns per unit of risk. Exmo Ethereum USD is currently generating about 0.14 per unit of risk. If you would invest  60,061  in BitTrex Ethereum USD on April 20, 2018 and sell it today you would earn a total of  10,084  from holding BitTrex Ethereum USD or generate 16.79% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Exmo Ethereum

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.77%
ValuesDaily Returns

Diversification

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum USD and Exmo Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo 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 Exmo Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Ethereum USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and Exmo Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Ethereum USD  
9 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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