Pair Correlation Between Tidex Ethereum and Coinbase Ethereum

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

Tidex

Ethereum on Tidex in USD
 918.58 
918.58  9,223,372,036,855%
Market Cap: 89 K
 83.78 

Coinbase

Ethereum on Coinbase in USD
 834.80 
37.20  4.27%
Market Cap: 91.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Tidex Ethereum USD is expected to generate 116.9 times more return on investment than Coinbase Ethereum. However, Tidex Ethereum is 116.9 times more volatile than Coinbase Ethereum USD. It trades about 0.71 of its potential returns per unit of risk. Coinbase Ethereum USD is currently generating about -0.09 per unit of risk. If you would invest  0.00  in Tidex Ethereum USD on January 25, 2018 and sell it today you would earn a total of  91,858  from holding Tidex Ethereum USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Ethereum and Coinbase 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 Coinbase Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase 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 Coinbase Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Ethereum USD has no effect on the direction of Tidex Ethereum i.e. Tidex Ethereum and Coinbase Ethereum go up and down completely randomly.

Comparative Volatility

Tidex Ethereum USD

  

Tidex Ethereum USD

Pair trading matchups for Tidex Ethereum

Coinbase Ethereum USD

  
0 

Risk-Adjusted Performance

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

Coinbase Ethereum USD

Pair trading matchups for Coinbase Ethereum