Correlation Analysis Between Exmo Ethereum and Cexio Ethereum

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

Exmo Ethereum USD  vs.  Cexio Ethereum USD

Exmo

Ethereum on Exmo in USD

 205.07 
7.56  3.56%
Market Cap: 26.5 M
  

Cexio

Ethereum on Cexio in USD

 206.40 
2.89  1.38%
Market Cap: 273.8 M
(1.33)
0.65% 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 Cexio Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Exmo Ethereum USD is 1.19 times less risky than Cexio Ethereum. The crypto trades about -0.21 of its potential returns per unit of risk. The Cexio Ethereum USD is currently generating about -0.15 of returns per unit of risk over similar time horizon. If you would invest  27,971  in Cexio Ethereum USD on August 20, 2018 and sell it today you would lose (7,042)  from holding Cexio Ethereum USD or give up 25.18% of portfolio value over 30 days.

Pair Corralation between Exmo Ethereum and Cexio Ethereum

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy95.65%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Cexio Ethereum USD  
0 

Risk-Adjusted Performance

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

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