Correlation Analysis Between Bitfinex Ethereum and EXRATES Dogecoin

This module allows you to analyze existing cross correlation between Bitfinex Ethereum Classic USD and EXRATES Dogecoin USD. You can compare the effects of market volatilities on Bitfinex Ethereum and EXRATES Dogecoin 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 EXRATES Dogecoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Ethereum and EXRATES Dogecoin.
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 rather fragile fundamental drivers, Bitfinex Ethereum exhibited solid returns over the last few months and may actually be approaching a breakup point.
EXRATES Dogecoin USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, EXRATES Dogecoin is not utilizing all of its potentials. The prevalent stock price agitation, may contribute to short term losses for the management.

Bitfinex Ethereum and EXRATES Dogecoin Volatility Contrast

Bitfinex Ethereum Classic USD  vs.  EXRATES Dogecoin USD

Bitfinex

Ethereum Classic on Bitfinex in USD

 6.18 
0.15  2.47%
Market Cap: 6.4 M
  

EXRATES

Dogecoin on EXRATES in USD

 0.002679 
0.00  0.00%
Market Cap: 1.7 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  603.10  in Bitfinex Ethereum Classic USD on August 20, 2019 and sell it today you would earn a total of  14.80  from holding Bitfinex Ethereum Classic USD or generate 2.45% return on investment over 30 days.

Pair Corralation between Bitfinex Ethereum and EXRATES Dogecoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Ethereum and EXRATES Dogecoin

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 EXRATES Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EXRATES Dogecoin 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 EXRATES Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXRATES Dogecoin USD has no effect on the direction of Bitfinex Ethereum i.e. Bitfinex Ethereum and EXRATES Dogecoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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