Correlation Analysis Between Coinbase Ethereum and bingcoins Ethereum

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

Comparative Performance

Coinbase Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinbase Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of weak performance in the last few months, the Crypto's forward-looking signals remain relatively invariable which may send shares a bit higher in September 2019. The latest agitation may also be a sign of long running up-swing for the entity management.
bingcoins Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days bingcoins Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Coinbase Ethereum and bingcoins Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Coinbase Ethereum USD  vs.  bingcoins Ethereum USD

Coinbase

Ethereum on Coinbase in USD

 186.36 
(6.98)  3.61%
Market Cap: 2.7 B
  

bingcoins

Ethereum on bingcoins in USD

 187.69 
(2.73)  1.43%
Market Cap: 6.8 M
(1.33)
0.71% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Ethereum USD is expected to under-perform the bingcoins Ethereum. In addition to that, Coinbase Ethereum is 1.13 times more volatile than bingcoins Ethereum USD. It trades about -0.17 of its total potential returns per unit of risk. bingcoins Ethereum USD is currently generating about -0.14 per unit of volatility. If you would invest  31,663  in bingcoins Ethereum USD on July 27, 2019 and sell it today you would lose (12,894)  from holding bingcoins Ethereum USD or give up 40.72% of portfolio value over 30 days.

Pair Corralation between Coinbase Ethereum and bingcoins Ethereum

0.48
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy71.67%
ValuesDaily Returns

Diversification Opportunities for Coinbase Ethereum and bingcoins Ethereum

Coinbase Ethereum USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Ethereum USD and bingcoins Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on bingcoins Ethereum USD and Coinbase 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 Coinbase Ethereum USD are associated (or correlated) with bingcoins Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bingcoins Ethereum USD has no effect on the direction of Coinbase Ethereum i.e. Coinbase Ethereum and bingcoins Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.


 
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