Correlation Analysis Between Bitforex Ethereum and Cexio Ethereum

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

Comparative Performance

Bitforex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Ethereum is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
Cexio Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Bitforex Ethereum and Cexio Ethereum Volatility Contrast

Bitforex Ethereum USD  vs.  Cexio Ethereum USD

Bitforex

Ethereum on Bitforex in USD

 204.50 
0.00  0.00%
Market Cap: 6.6 M
  

Cexio

Ethereum on Cexio in USD

 213.80 
(4.09)  1.88%
Market Cap: 28.3 M
(9.30)
4.55% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  20,450  in Bitforex Ethereum USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding Bitforex Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitforex Ethereum and Cexio Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitforex Ethereum and Cexio Ethereum

Bitforex Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitforex Ethereum USD 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 Bitforex 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 Bitforex Ethereum 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 Bitforex Ethereum i.e. Bitforex Ethereum and Cexio Ethereum go up and down completely randomly.
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