This module allows you to analyze existing cross correlation between Tidex Ethereum USD and Bitfinex Ethereum USD. You can compare the effects of market volatilities on Tidex 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 Tidex Ethereum with a short position of Bitfinex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Tidex Ethereum and Bitfinex Ethereum.
If you would invest 64,207 in Bitfinex Ethereum USD on April 22, 2018 and sell it today you would earn a total of 4,587 from holding Bitfinex Ethereum USD or generate 7.14% return on investment over 30 days.
Pair Corralation between Tidex Ethereum and Bitfinex Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding Tidex 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 Tidex 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 Tidex 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 Tidex Ethereum i.e. Tidex Ethereum and Bitfinex Ethereum go up and down completely randomly.
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