Pair Correlation Between Bitfinex Recovery and Cexio Ethereum

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

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.19 
(0.0144)  7.08%
Market Cap: 662.3 K

Cexio

Ethereum on Cexio in USD
 1,214 
(16.13)  1.31%
Market Cap: 7.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery is expected to generate 3.59 times less return on investment than Cexio Ethereum. In addition to that, Bitfinex Recovery is 1.32 times more volatile than Cexio Ethereum USD. It trades about 0.03 of its total potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.16 per unit of volatility. If you would invest  88,000  in Cexio Ethereum USD on December 21, 2017 and sell it today you would earn a total of  33,850  from holding Cexio Ethereum USD or generate 38.47% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitfinex Recovery and Cexio Ethereum
-0.02

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitfinex Recovery Right

  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Recovery Right Tokens USD

Pair trading matchups for Bitfinex Recovery

Cexio Ethereum USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum