Correlation Analysis Between Bitfinex Ethereum and BitTrex Komodo

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

Comparative Performance

Bitfinex Ethereum  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
BitTrex Komodo USD  
00

Risk-Adjusted Performance

Over the last 30 days BitTrex Komodo USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, BitTrex Komodo is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

Bitfinex Ethereum and BitTrex Komodo Volatility Contrast

Bitfinex Ethereum Classic USD  vs.  BitTrex Komodo USD

Bitfinex

Ethereum Classic on Bitfinex in USD

 6.13 
(0.038)  0.62%
Market Cap: 6.4 M
  

BitTrex

Komodo on BitTrex in USD

 0.70 
0.00  0.00%
Market Cap: 1.4 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  69.80  in BitTrex Komodo USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding BitTrex Komodo USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex Ethereum and BitTrex Komodo

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Ethereum and BitTrex Komodo

Bitfinex Ethereum Classic USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Ethereum Classic USD and BitTrex Komodo USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Komodo USD and Bitfinex 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 Bitfinex Ethereum Classic USD are associated (or correlated) with BitTrex Komodo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Komodo USD has no effect on the direction of Bitfinex Ethereum i.e. Bitfinex Ethereum and BitTrex Komodo go up and down completely randomly.
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