Pair Correlation Between Coinroom Ethereum and Bitfinex Ethereum

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

Coinroom

Ethereum on Coinroom in USD
 486.25 
0.44  0.0906%
Market Cap: 24.1 M
(51.25)

Bitfinex

Ethereum on Bitfinex in USD
 537.5 
27.98  5.49%
Market Cap: 553.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Ethereum is expected to generate 1.13 times less return on investment than Bitfinex Ethereum. In addition to that, Coinroom Ethereum is 1.23 times more volatile than Bitfinex Ethereum USD. It trades about 0.27 of its total potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about 0.37 per unit of volatility. If you would invest  30,441  in Bitfinex Ethereum USD on November 12, 2017 and sell it today you would earn a total of  20,511  from holding Bitfinex Ethereum USD or generate 67.38% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinroom Ethereum and Bitfinex Ethereum
0.88

Parameters

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

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Coinroom Ethereum USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Ethereum USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Ethereum USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.