Correlation Analysis Between Cexio Ethereum and BitTrex Ethereum

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

Comparative Performance

Cexio Ethereum USD  
00

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. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
BitTrex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite weak performance in the last few months, the Crypto's basic indicators remain fairly 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.

Cexio Ethereum and BitTrex Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Ethereum USD  vs.  BitTrex Ethereum USD

Cexio

Ethereum on Cexio in USD

 192.56 
6.87  3.70%
Market Cap: 274.2 K
  

BitTrex

Ethereum on BitTrex in USD

 192.43 
7.38  3.99%
Market Cap: 14.7 M
 0.13 
0.07% 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 BitTrex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Ethereum USD is 1.05 times less risky than BitTrex Ethereum. The crypto trades about -0.16 of its potential returns per unit of risk. The BitTrex Ethereum USD is currently generating about -0.15 of returns per unit of risk over similar time horizon. If you would invest  31,537  in BitTrex Ethereum USD on July 23, 2019 and sell it today you would lose (12,590)  from holding BitTrex Ethereum USD or give up 39.92% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and BitTrex Ethereum

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Cexio Ethereum and BitTrex 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 BitTrex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex 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 BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and BitTrex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.


 
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