Correlation Analysis Between primexbt Ethereum and Binance Ethereum

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

Comparative Performance

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 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.
Binance Ethereum USD  
00

Risk-Adjusted Performance

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

primexbt Ethereum and Binance Ethereum Volatility Contrast

primexbt Ethereum USD  vs.  Binance Ethereum USD

primexbt

Ethereum on primexbt in USD

 190.65 
(2.91)  1.50%
Market Cap: 1.8 B
  

Binance

Ethereum on Binance in USD

 189.23 
0.00  0.00%
Market Cap: 496.1 K
 1.42 
0.74% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  18,923  in Binance Ethereum USD on July 26, 2019 and sell it today you would earn a total of  0.00  from holding Binance Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between primexbt Ethereum and Binance Ethereum

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.67%
ValuesDaily Returns

Diversification Opportunities for primexbt Ethereum and Binance Ethereum

primexbt Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding primexbt Ethereum USD and Binance Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Binance Ethereum USD and primexbt 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 primexbt Ethereum USD are associated (or correlated) with Binance Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Binance Ethereum USD has no effect on the direction of primexbt Ethereum i.e. primexbt Ethereum and Binance Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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