Correlation Analysis Between Liquid Ethereum and Exenium Ethereum

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

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.
Exenium Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exenium Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in September 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.

Liquid Ethereum and Exenium Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Ethereum USD  vs.  Exenium Ethereum USD

Liquid

Ethereum on Liquid in USD

 184.31 
(0.92)  0.50%
Market Cap: 675.2 M
  

Exenium

Ethereum on Exenium in USD

 180.91 
(0.77)  0.42%
Market Cap: 8 M
 3.40 
1.84% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Ethereum USD is expected to under-perform the Exenium Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Liquid Ethereum USD is 1.14 times less risky than Exenium Ethereum. The crypto trades about -0.12 of its potential returns per unit of risk. The Exenium Ethereum USD is currently generating about -0.1 of returns per unit of risk over similar time horizon. If you would invest  26,572  in Exenium Ethereum USD on July 19, 2019 and sell it today you would lose (8,481)  from holding Exenium Ethereum USD or give up 31.92% of portfolio value over 30 days.

Pair Corralation between Liquid Ethereum and Exenium Ethereum

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Liquid Ethereum and Exenium Ethereum

Liquid Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Ethereum USD and Exenium Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exenium 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 Exenium Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exenium Ethereum USD has no effect on the direction of Liquid Ethereum i.e. Liquid Ethereum and Exenium Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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