Correlation Analysis Between ExtStock Ethereum and Coinbase Ethereum

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

Comparative Performance

ExtStock Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days ExtStock 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 basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Coinbase Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinbase Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Coinbase Ethereum is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the management.

ExtStock Ethereum and Coinbase Ethereum Volatility Contrast

ExtStock Ethereum USD  vs.  Coinbase Ethereum USD

ExtStock

Ethereum on ExtStock in USD

 188.36 
(2.25)  1.18%
Market Cap: 390.7 M
  

Coinbase

Ethereum on Coinbase in USD

 0.00 
0.00  0.00%
Market Cap: 2.7 B
 188.36 
100.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in Coinbase Ethereum USD on July 27, 2019 and sell it today you would earn a total of  0.00  from holding Coinbase Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between ExtStock Ethereum and Coinbase Ethereum

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.33%
ValuesDaily Returns

Diversification Opportunities for ExtStock Ethereum and Coinbase Ethereum

ExtStock Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding ExtStock Ethereum USD and Coinbase Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Ethereum USD and ExtStock 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 ExtStock Ethereum USD are associated (or correlated) with Coinbase Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Ethereum USD has no effect on the direction of ExtStock Ethereum i.e. ExtStock Ethereum and Coinbase Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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