Correlation Analysis Between BTCAlpha Ethereum and Liquid Ethereum

This module allows you to analyze existing cross correlation between BTCAlpha Ethereum USD and Liquid Ethereum USD. You can compare the effects of market volatilities on BTCAlpha Ethereum and Liquid 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 BTCAlpha Ethereum with a short position of Liquid Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of BTCAlpha Ethereum and Liquid Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

BTCAlpha Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
Liquid Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

BTCAlpha Ethereum and Liquid Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

BTCAlpha Ethereum USD  vs.  Liquid Ethereum USD

BTCAlpha

Ethereum on BTCAlpha in USD

 185.55 
(7.94)  4.10%
Market Cap: 83.5 M
  

Liquid

Ethereum on Liquid in USD

 187.34 
(3.75)  1.96%
Market Cap: 89.1 M
(1.79)
0.96% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BTCAlpha Ethereum USD is expected to generate 1.05 times more return on investment than Liquid Ethereum. However, BTCAlpha Ethereum is 1.05 times more volatile than Liquid Ethereum USD. It trades about -0.14 of its potential returns per unit of risk. Liquid Ethereum USD is currently generating about -0.2 per unit of risk. If you would invest  29,805  in BTCAlpha Ethereum USD on July 26, 2019 and sell it today you would lose (10,831)  from holding BTCAlpha Ethereum USD or give up 36.34% of portfolio value over 30 days.

Pair Corralation between BTCAlpha Ethereum and Liquid Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for BTCAlpha Ethereum and Liquid Ethereum

BTCAlpha Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BTCAlpha Ethereum USD and Liquid Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Liquid Ethereum USD and BTCAlpha 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 BTCAlpha Ethereum USD are associated (or correlated) with Liquid Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Liquid Ethereum USD has no effect on the direction of BTCAlpha Ethereum i.e. BTCAlpha Ethereum and Liquid Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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