This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Bitfinex Ethereum USD. You can compare the effects of market volatilities on Cexio 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 Cexio Ethereum with a short position of Bitfinex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Cexio Ethereum and Bitfinex Ethereum.
Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the Bitfinex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Ethereum USD is 1.02 times less risky than Bitfinex Ethereum. The crypto trades about -0.33 of its potential returns per unit of risk. The Bitfinex Ethereum USD is currently generating about -0.31 of returns per unit of risk over similar time horizon. If you would invest 19,842 in Bitfinex Ethereum USD on November 10, 2018 and sell it today you would lose (10,700) from holding Bitfinex Ethereum USD or give up 53.93% of portfolio value over 30 days.
Pair Corralation between Cexio Ethereum and Bitfinex Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding Cexio 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 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 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 Cexio Ethereum i.e. Cexio Ethereum and Bitfinex Ethereum go up and down completely randomly.
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