Correlation Analysis Between Bitfinex Ethereum and P2PB2B Waves

This module allows you to analyze existing cross correlation between Bitfinex Ethereum Classic USD and P2PB2B Waves USD. You can compare the effects of market volatilities on Bitfinex Ethereum and P2PB2B Waves 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 P2PB2B Waves. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Ethereum and P2PB2B Waves.
Horizon     30 Days    Login   to change
Symbolsvs
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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.
P2PB2B Waves USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Waves USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Bitfinex Ethereum and P2PB2B Waves Volatility Contrast

Bitfinex Ethereum Classic USD  vs.  P2PB2B Waves USD

Bitfinex

Ethereum Classic on Bitfinex in USD

 6.12 
(0.001)  0.0163%
Market Cap: 6.4 M
  

P2PB2B

Waves on P2PB2B in USD

 1.07 
(0.006)  0.56%
Market Cap: 60.8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Ethereum Classic USD is expected to generate 0.52 times more return on investment than P2PB2B Waves. However, Bitfinex Ethereum Classic USD is 1.94 times less risky than P2PB2B Waves. It trades about 0.58 of its potential returns per unit of risk. P2PB2B Waves USD is currently generating about -0.71 per unit of risk. If you would invest  603.10  in Bitfinex Ethereum Classic USD on August 21, 2019 and sell it today you would earn a total of  9.00  from holding Bitfinex Ethereum Classic USD or generate 1.49% return on investment over 30 days.

Pair Corralation between Bitfinex Ethereum and P2PB2B Waves

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy66.67%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Ethereum and P2PB2B Waves

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 P2PB2B Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Waves 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 P2PB2B Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Waves USD has no effect on the direction of Bitfinex Ethereum i.e. Bitfinex Ethereum and P2PB2B Waves go up and down completely randomly.
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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