Pair Correlation Between Cexio Ethereum and HitBTC Stratis

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

Cexio

Ethereum on Cexio in USD
 1,104 
(106.26)  8.78%
Market Cap: 7.8 B

HitBTC

Stratis on HitBTC in USD
 13 
0.01  0.077%
Market Cap: 10.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 1.24 times less return on investment than HitBTC Stratis. But when comparing it to its historical volatility, Cexio Ethereum USD is 1.3 times less risky than HitBTC Stratis. It trades about 0.15 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  1,048  in HitBTC Stratis USD on December 22, 2017 and sell it today you would earn a total of  394  from holding HitBTC Stratis USD or generate 37.6% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and HitBTC Stratis
0.49

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Ethereum USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum

HitBTC Stratis USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis