Correlation Analysis Between Cexio Ethereum and Bitfinex Recovery

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

Comparative Performance

Cexio Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex Recovery Right  
0

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Cexio Ethereum and Bitfinex Recovery Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Ethereum USD  vs.  Bitfinex Recovery Right Tokens

Cexio

Ethereum on Cexio in USD

 85.25 
(1.88)  2.16%
Market Cap: 4.4 M
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.03574 
0.00  0.00%
Market Cap: 145
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the Bitfinex Recovery. In addition to that, Cexio Ethereum is 1.34 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about -0.38 of its total potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.01 per unit of volatility. If you would invest  3.62  in Bitfinex Recovery Right Tokens USD on November 15, 2018 and sell it today you would lose (0.04)  from holding Bitfinex Recovery Right Tokens USD or give up 1.19% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and Bitfinex Recovery

0.11
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Cexio Ethereum and Bitfinex Recovery

Cexio Ethereum USD diversification synergy

Average diversification

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

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