This module allows you to analyze existing cross correlation between Bitfinex Ethereum USD and BitBay Ethereum USD. You can compare the effects of market volatilities on Bitfinex Ethereum and BitBay 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 Bitfinex Ethereum with a short position of BitBay Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Bitfinex Ethereum
and BitBay Ethereum
Bitfinex Ethereum USD vs BitBay Ethereum USD
Assuming 30 trading days horizon, Bitfinex Ethereum USD is expected to generate 1.19 times more return on investment than BitBay Ethereum. However, Bitfinex Ethereum is 1.19 times more volatile than BitBay Ethereum USD. It trades about 0.26 of its potential returns per unit of risk. BitBay Ethereum USD is currently generating about 0.21 per unit of risk. If you would invest 62,819 in Bitfinex Ethereum USD on December 21, 2017 and sell it today you would earn a total of 43,291 from holding Bitfinex Ethereum USD or generate 68.91% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Ethereum USD and BitBay Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitBay Ethereum 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 USD are associated (or correlated) with BitBay Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitBay Ethereum USD has no effect on the direction of Bitfinex Ethereum i.e. Bitfinex Ethereum and BitBay Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in BitBay Ethereum USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.