Correlation Analysis Between Coinroom Ethereum and Exmo Ethereum

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

Coinroom Ethereum USD  vs.  Exmo Ethereum USD

Coinroom

Ethereum on Coinroom in USD
 502.85 
40.76  7.50%
Market Cap: 120.9 M
  

Exmo

Ethereum on Exmo in USD
 524.10 
13.16  2.45%
Market Cap: 449.1 M
(21.25)
4.23% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Ethereum USD is expected to under-perform the Exmo Ethereum. In addition to that, Coinroom Ethereum is 1.19 times more volatile than Exmo Ethereum USD. It trades about -0.07 of its total potential returns per unit of risk. Exmo Ethereum USD is currently generating about -0.07 per unit of volatility. If you would invest  59,859  in Exmo Ethereum USD on May 22, 2018 and sell it today you would lose (7,349)  from holding Exmo Ethereum USD or give up 12.28% of portfolio value over 30 days.

Pair Corralation between Coinroom Ethereum and Exmo Ethereum

0.97
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinroom Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Coinroom Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Exmo Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Exmo Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.