Correlation Analysis Between Coinbase Ethereum and Bitforex Ethereum

This module allows you to analyze existing cross correlation between Coinbase Ethereum USD and Bitforex Ethereum USD. You can compare the effects of market volatilities on Coinbase Ethereum and Bitforex 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 Bitforex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinbase Ethereum and Bitforex 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.
Bitforex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Ethereum is not utilizing all of its potentials. The latest stock price tumult, may contribute to shorter-term losses for the shareholders.

Coinbase Ethereum and Bitforex Ethereum Volatility Contrast

Coinbase Ethereum USD  vs.  Bitforex Ethereum USD

Coinbase

Ethereum on Coinbase in USD

 190.21 
(3.13)  1.62%
Market Cap: 2.7 B
  

Bitforex

Ethereum on Bitforex in USD

 194.49 
0.00  0.00%
Market Cap: 16.8 M
(4.28)
2.25% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  19,449  in Bitforex Ethereum USD on July 25, 2019 and sell it today you would earn a total of  0.00  from holding Bitforex Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Coinbase Ethereum and Bitforex Ethereum

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.44%
ValuesDaily Returns

Diversification Opportunities for Coinbase Ethereum and Bitforex Ethereum

Coinbase Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Ethereum USD and Bitforex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitforex 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 Bitforex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitforex Ethereum USD has no effect on the direction of Coinbase Ethereum i.e. Coinbase Ethereum and Bitforex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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