Correlation Analysis Between Exmo Ethereum and Coinroom Ethereum

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

Exmo Ethereum USD  vs.  Coinroom Ethereum USD

Exmo

Ethereum on Exmo in USD

 181.70 
7.26  3.84%
Market Cap: 76 M
  

Coinroom

Ethereum on Coinroom in USD

 176.42 
3.36  1.87%
Market Cap: 1.1 M
 5.28 
2.91% 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 Coinroom Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Exmo Ethereum USD is 1.41 times less risky than Coinroom Ethereum. The crypto trades about -0.17 of its potential returns per unit of risk. The Coinroom Ethereum USD is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest  19,576  in Coinroom Ethereum USD on October 18, 2018 and sell it today you would lose (1,934)  from holding Coinroom Ethereum USD or give up 9.88% of portfolio value over 30 days.

Pair Corralation between Exmo Ethereum and Coinroom Ethereum

0.63
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Exmo Ethereum USD diversification synergy

Poor diversification

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

Risk-Adjusted Performance

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

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