Correlation Analysis Between Exenium Ethereum and BTCAlpha Ethereum

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

Comparative Performance

Exenium Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exenium 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.
BTCAlpha Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha 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.

Exenium Ethereum and BTCAlpha Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Exenium Ethereum USD  vs.  BTCAlpha Ethereum USD

Exenium

Ethereum on Exenium in USD

 182.46 
(6.61)  3.50%
Market Cap: 4.7 M
  

BTCAlpha

Ethereum on BTCAlpha in USD

 186.54 
(6.95)  3.59%
Market Cap: 83.5 M
(4.08)
2.24% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exenium Ethereum USD is expected to generate 1.05 times more return on investment than BTCAlpha Ethereum. However, Exenium Ethereum is 1.05 times more volatile than BTCAlpha Ethereum USD. It trades about -0.16 of its potential returns per unit of risk. BTCAlpha Ethereum USD is currently generating about -0.17 per unit of risk. If you would invest  30,477  in Exenium Ethereum USD on July 27, 2019 and sell it today you would lose (12,231)  from holding Exenium Ethereum USD or give up 40.13% of portfolio value over 30 days.

Pair Corralation between Exenium Ethereum and BTCAlpha Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exenium Ethereum and BTCAlpha Ethereum

Exenium Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exenium Ethereum USD and BTCAlpha Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BTCAlpha Ethereum USD and Exenium 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 Exenium Ethereum USD are associated (or correlated) with BTCAlpha Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTCAlpha Ethereum USD has no effect on the direction of Exenium Ethereum i.e. Exenium Ethereum and BTCAlpha Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.


 
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