Correlation Analysis Between Exmo Ethereum and Bitfinex Ethereum

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

Comparative Performance

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.
Bitfinex Ethereum USD  
0

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.

Exmo Ethereum and Bitfinex Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo Ethereum USD  vs.  Bitfinex Ethereum USD

Exmo

Ethereum on Exmo in USD

 87.00 
0.02  0.023%
Market Cap: 6.8 M
  

Bitfinex

Ethereum on Bitfinex in USD

 87.02 
(1.27)  1.44%
Market Cap: 1.4 B
(0.02)
0.022989% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Ethereum USD is expected to under-perform the Bitfinex Ethereum. In addition to that, Exmo Ethereum is 1.03 times more volatile than Bitfinex Ethereum USD. It trades about -0.36 of its total potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about -0.37 per unit of volatility. If you would invest  21,304  in Bitfinex Ethereum USD on November 16, 2018 and sell it today you would lose (12,633)  from holding Bitfinex Ethereum USD or give up 59.3% of portfolio value over 30 days.

Pair Corralation between Exmo Ethereum and Bitfinex Ethereum

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for Exmo Ethereum and Bitfinex Ethereum

Exmo Ethereum USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Exmo 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 Exmo 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 Exmo 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 Exmo Ethereum i.e. Exmo Ethereum and Bitfinex Ethereum go up and down completely randomly.

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