Pair Correlation Between Tidex Ethereum and Cexio Ethereum

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

Tidex

Ethereum on Tidex in USD
 650.03 
(0.002042)  0.0003%
Market Cap: 71.7 K
(79.97)

Cexio

Ethereum on Cexio in USD
 730 
(12.99)  1.75%
Market Cap: 1.8 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  33,369  in Cexio Ethereum USD on November 16, 2017 and sell it today you would earn a total of  41,031  from holding Cexio Ethereum USD or generate 122.96% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Ethereum and Cexio Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.45%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Tidex 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 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 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 Tidex Ethereum i.e. Tidex Ethereum and Cexio Ethereum go up and down completely randomly.

Comparative Volatility

Cexio Ethereum USD

  
30 

Risk-Adjusted Performance

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