Correlation Analysis Between Bitfinex Ethereum and HitBTC Ethereum

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

Comparative Performance

Bitfinex Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Bitfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC Ethereum USD  
0

Risk-Adjusted Performance

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

Bitfinex Ethereum and HitBTC Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Ethereum USD  vs.  HitBTC Ethereum USD

Bitfinex

Ethereum on Bitfinex in USD

 96.50 
4.00  4.32%
Market Cap: 1.4 B
  

HitBTC

Ethereum on HitBTC in USD

 92.93 
0.00  0.00%
Market Cap: 38.7 K
 3.57 
3.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  9,293  in HitBTC Ethereum USD on November 18, 2018 and sell it today you would earn a total of  0.00  from holding HitBTC Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex Ethereum and HitBTC Ethereum

0.83
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy4.65%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Ethereum and HitBTC Ethereum

Bitfinex Ethereum USD diversification synergy

Very poor diversification

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

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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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