Correlation Analysis Between Poloniex Ethereum and Bitfinex Ethereum

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

Poloniex Ethereum USD  vs.  Bitfinex Ethereum USD

Poloniex

Ethereum on Poloniex in USD

 205.88 
5.12  2.43%
Market Cap: 594.9 M
  

Bitfinex

Ethereum on Bitfinex in USD

 211.43 
13.83  7.00%
Market Cap: 23.8 B
(5.55)
2.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Ethereum USD is expected to generate 0.99 times more return on investment than Bitfinex Ethereum. However, Poloniex Ethereum USD is 1.01 times less risky than Bitfinex Ethereum. It trades about -0.17 of its potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about -0.17 per unit of risk. If you would invest  27,953  in Poloniex Ethereum USD on August 20, 2018 and sell it today you would lose (7,253)  from holding Poloniex Ethereum USD or give up 25.95% of portfolio value over 30 days.

Pair Corralation between Poloniex Ethereum and Bitfinex Ethereum

0.94
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex Ethereum USD  
0 

Risk-Adjusted Performance

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

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