Correlation Analysis Between primexbt Ethereum and Cexio Ethereum

This module allows you to analyze existing cross correlation between primexbt Ethereum USD and Cexio Ethereum USD. You can compare the effects of market volatilities on primexbt Ethereum and Cexio 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 Cexio Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of primexbt Ethereum and Cexio Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
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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.
Cexio Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

primexbt Ethereum and Cexio Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

primexbt Ethereum USD  vs.  Cexio Ethereum USD

primexbt

Ethereum on primexbt in USD

 191.57 
(0.76)  0.40%
Market Cap: 1.8 B
  

Cexio

Ethereum on Cexio in USD

 189.63 
(5.07)  2.60%
Market Cap: 274.2 K
 1.94 
1.01% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, primexbt Ethereum USD is expected to generate 0.83 times more return on investment than Cexio Ethereum. However, primexbt Ethereum USD is 1.2 times less risky than Cexio Ethereum. It trades about -0.16 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.18 per unit of risk. If you would invest  33,200  in primexbt Ethereum USD on July 25, 2019 and sell it today you would lose (14,043)  from holding primexbt Ethereum USD or give up 42.3% of portfolio value over 30 days.

Pair Corralation between primexbt Ethereum and Cexio Ethereum

0.58
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy73.77%
ValuesDaily Returns

Diversification Opportunities for primexbt Ethereum and Cexio Ethereum

primexbt Ethereum USD diversification synergy

Very weak diversification

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


 
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