Correlation Analysis 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Coinroom Ethereum USD  vs.  Bitfinex Ethereum USD

Coinroom

Ethereum on Coinroom in USD
 694.92 
10.41  1.52%
Market Cap: 201.7 M
  

Bitfinex

Ethereum on Bitfinex in USD
 709.99 
3.00  0.42%
Market Cap: 66.3 B
(15.07)
2.17% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Ethereum is expected to generate 1.33 times less return on investment than Bitfinex Ethereum. In addition to that, Coinroom Ethereum is 1.18 times more volatile than Bitfinex Ethereum USD. It trades about 0.08 of its total potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about 0.13 per unit of volatility. If you would invest  60,462  in Bitfinex Ethereum USD on April 20, 2018 and sell it today you would earn a total of  10,537  from holding Bitfinex Ethereum USD or generate 17.43% return on investment over 30 days.

Pair Corralation between Coinroom Ethereum and Bitfinex Ethereum

0.67
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

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  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Ethereum USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Ethereum USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1066.36

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.