Correlation Analysis Between Ethfinex Ethereum and Bitfinex Ethereum

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

Ethfinex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Ethfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
Bitfinex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Ethfinex Ethereum and Bitfinex Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Ethfinex Ethereum USD  vs.  Bitfinex Ethereum USD

Ethfinex

Ethereum on Ethfinex in USD

 189.07 
(3.51)  1.82%
Market Cap: 159.4 M
  

Bitfinex

Ethereum on Bitfinex in USD

 188.95 
(3.94)  2.04%
Market Cap: 2.2 B
 0.12 
0.06% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Ethfinex Ethereum USD is expected to generate 1.06 times more return on investment than Bitfinex Ethereum. However, Ethfinex Ethereum is 1.06 times more volatile than Bitfinex Ethereum USD. It trades about -0.18 of its potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about -0.19 per unit of risk. If you would invest  33,200  in Ethfinex Ethereum USD on July 25, 2019 and sell it today you would lose (14,355)  from holding Ethfinex Ethereum USD or give up 43.24% of portfolio value over 30 days.

Pair Corralation between Ethfinex Ethereum and Bitfinex Ethereum

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Ethfinex Ethereum and Bitfinex Ethereum

Ethfinex Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Ethfinex 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 Ethfinex 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 Ethfinex 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 Ethfinex Ethereum i.e. Ethfinex Ethereum and Bitfinex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.


 
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