Pair Correlation Between Coinbase Ethereum and Tidex Ethereum

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

Coinbase

Ethereum on Coinbase in USD
 833.25 
6.23  0.75%
Market Cap: 91.3 B
(85.33)

Tidex

Ethereum on Tidex in USD
 918.58 
918.58  9,223,372,036,855%
Market Cap: 89 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Ethereum USD is expected to under-perform the Tidex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Ethereum USD is 115.87 times less risky than Tidex Ethereum. The crypto trades about -0.1 of its potential returns per unit of risk. The Tidex Ethereum USD is currently generating about 0.71 of returns per unit of risk over similar time horizon. If you would invest  0.00  in Tidex Ethereum USD on January 25, 2018 and sell it today you would earn a total of  91,858  from holding Tidex Ethereum USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinbase Ethereum and Tidex Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.45%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Coinbase Ethereum USD

  
0 

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.

Coinbase Ethereum USD

Pair trading matchups for Coinbase Ethereum

Tidex Ethereum USD

  

Tidex Ethereum USD

Pair trading matchups for Tidex Ethereum