This module allows you to analyze existing cross correlation between Cexio Ethereum USD and BitBay Ethereum USD. You can compare the effects of market volatilities on Cexio Ethereum and BitBay 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 Cexio Ethereum with a short position of BitBay Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Cexio Ethereum
and BitBay Ethereum
Cexio Ethereum USD vs BitBay Ethereum USD
Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 1.22 times less return on investment than BitBay Ethereum. But when comparing it to its historical volatility, Cexio Ethereum USD is 2.49 times less risky than BitBay Ethereum. It trades about 0.34 of its potential returns per unit of risk. BitBay Ethereum USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 29,345 in BitBay Ethereum USD on November 10, 2017 and sell it today you would earn a total of 14,715 from holding BitBay Ethereum USD or generate 50.14% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Cexio Ethereum USD and BitBay Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitBay Ethereum USD and Cexio 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 Cexio Ethereum USD are associated (or correlated) with BitBay Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitBay Ethereum USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and BitBay Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in BitBay Ethereum USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.