Correlation Analysis Between Tidex Ethereum and Bitfinex Ethereum

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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Tidex Ethereum USD  vs.  Bitfinex Ethereum USD

Tidex

Ethereum on Tidex in USD
 698.26 
0.002843  0.0004%
Market Cap: 20.5 K
  

Bitfinex

Ethereum on Bitfinex in USD
 719.14 
31.20  4.54%
Market Cap: 66.3 B
(20.88)
2.99% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

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

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy13.33%
ValuesDaily Returns

Diversification

Pay attention

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.

Comparative Volatility

Tidex Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Tidex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex Ethereum USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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