Correlation Analysis Between ItBit Ethereum and Primexbt Ethereum

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

itBit Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days itBit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, ItBit Ethereum is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
primexbt Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days primexbt Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Primexbt Ethereum is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

ItBit Ethereum and Primexbt Ethereum Volatility Contrast

itBit Ethereum USD  vs.  primexbt Ethereum USD

itBit

Ethereum on itBit in USD

 146.05 
0.00   0.00 
Market Cap: 138.1 M
  

primexbt

Ethereum on primexbt in USD

 143.52 
0.00   0.00 
Market Cap: 115.3 M
 2.53 
1.73  Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  14,639  in primexbt Ethereum USD on November 11, 2019 and sell it today you would earn a total of  0.00  from holding primexbt Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between ItBit Ethereum and Primexbt Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for ItBit Ethereum and Primexbt Ethereum

itBit Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding itBit Ethereum USD and primexbt Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on primexbt Ethereum USD and ItBit 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 itBit Ethereum USD are associated (or correlated) with Primexbt Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of primexbt Ethereum USD has no effect on the direction of ItBit Ethereum i.e. ItBit Ethereum and Primexbt Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.


 
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