Correlation Analysis Between Coinsbit Ethereum and Bitstamp Ethereum

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

Coinsbit Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
Bitstamp Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in September 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.

Coinsbit Ethereum and Bitstamp Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Ethereum USD  vs.  Bitstamp Ethereum USD

Coinsbit

Ethereum on Coinsbit in USD

 198.60 
2.56  1.31%
Market Cap: 157.7 M
  

Bitstamp

Ethereum on Bitstamp in USD

 199.23 
4.40  2.26%
Market Cap: 45.6 M
(0.63)
0.32% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Ethereum USD is expected to generate 1.38 times more return on investment than Bitstamp Ethereum. However, Coinsbit Ethereum is 1.38 times more volatile than Bitstamp Ethereum USD. It trades about -0.07 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.12 per unit of risk. If you would invest  29,416  in Coinsbit Ethereum USD on July 20, 2019 and sell it today you would lose (9,556)  from holding Coinsbit Ethereum USD or give up 32.49% of portfolio value over 30 days.

Pair Corralation between Coinsbit Ethereum and Bitstamp Ethereum

0.94
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Ethereum and Bitstamp Ethereum

Coinsbit Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinsbit Ethereum USD and Bitstamp Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp Ethereum USD and Coinsbit 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 Coinsbit Ethereum USD are associated (or correlated) with Bitstamp Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Ethereum USD has no effect on the direction of Coinsbit Ethereum i.e. Coinsbit Ethereum and Bitstamp Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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