Correlation Analysis Between Cexio Ethereum and Bitstamp Ethereum

This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Bitstamp Ethereum USD. You can compare the effects of market volatilities on Cexio Ethereum and Bitstamp 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 Bitstamp Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Cexio Ethereum and Bitstamp Ethereum.
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.
Bitstamp Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Cexio Ethereum and Bitstamp Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Ethereum USD  vs.  Bitstamp Ethereum USD

Cexio

Ethereum on Cexio in USD

 93.40 
6.15  7.05%
Market Cap: 4.4 M
  

Bitstamp

Ethereum on Bitstamp in USD

 93.48 
(0.59)  0.63%
Market Cap: 36 M
(0.08)
0.09% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the Bitstamp Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Ethereum USD is 1.19 times less risky than Bitstamp Ethereum. The crypto trades about -0.32 of its potential returns per unit of risk. The Bitstamp Ethereum USD is currently generating about -0.26 of returns per unit of risk over similar time horizon. If you would invest  20,282  in Bitstamp Ethereum USD on November 18, 2018 and sell it today you would lose (11,097)  from holding Bitstamp Ethereum USD or give up 54.71% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and Bitstamp Ethereum

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Cexio Ethereum and Bitstamp Ethereum

Cexio Ethereum USD diversification synergy

No risk reduction

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

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See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.


 
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