Correlation Analysis Between Liquid Ethereum and Bitlish Ethereum

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

Liquid Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid 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.
Bitlish Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitlish 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 fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Liquid Ethereum and Bitlish Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Ethereum USD  vs.  Bitlish Ethereum USD

Liquid

Ethereum on Liquid in USD

 187.44 
(1.46)  0.77%
Market Cap: 89.1 M
  

Bitlish

Ethereum on Bitlish in USD

 225.68 
23.51  11.63%
Market Cap: 3.7 M
(38.24)
20.40% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Ethereum USD is expected to generate 1.02 times more return on investment than Bitlish Ethereum. However, Liquid Ethereum is 1.02 times more volatile than Bitlish Ethereum USD. It trades about -0.17 of its potential returns per unit of risk. Bitlish Ethereum USD is currently generating about -0.18 per unit of risk. If you would invest  31,368  in Liquid Ethereum USD on July 22, 2019 and sell it today you would lose (12,478)  from holding Liquid Ethereum USD or give up 39.78% of portfolio value over 30 days.

Pair Corralation between Liquid Ethereum and Bitlish Ethereum

0.41
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy80.95%
ValuesDaily Returns

Diversification Opportunities for Liquid Ethereum and Bitlish Ethereum

Liquid Ethereum USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Ethereum USD and Bitlish Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitlish Ethereum USD and Liquid 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 Liquid Ethereum USD are associated (or correlated) with Bitlish Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitlish Ethereum USD has no effect on the direction of Liquid Ethereum i.e. Liquid Ethereum and Bitlish Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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