This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Coinbase Ethereum USD. You can compare the effects of market volatilities on Cexio Ethereum and Coinbase 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 Coinbase Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Cexio Ethereum
and Coinbase Ethereum
Cexio Ethereum USD vs Coinbase Ethereum USD
Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 1.09 times less return on investment than Coinbase Ethereum. But when comparing it to its historical volatility, Cexio Ethereum USD is 1.4 times less risky than Coinbase Ethereum. It trades about 0.42 of its potential returns per unit of risk. Coinbase Ethereum USD is currently generating about 0.32 of returns per unit of risk over similar time horizon. If you would invest 33,021 in Coinbase Ethereum USD on November 15, 2017 and sell it today you would earn a total of 37,180 from holding Coinbase Ethereum USD or generate 112.6% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Cexio Ethereum USD and Coinbase Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase 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 Coinbase Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Ethereum USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and Coinbase 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 27 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Ethereum USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.