Correlation Analysis Between Bitstamp Ethereum and CCEX AlpaCoin

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

Comparative Performance

Bitstamp Ethereum USD  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

Bitstamp Ethereum and CCEX AlpaCoin Volatility Contrast

 Predicted Return Density 

Bitstamp Ethereum USD  vs.  CCEX AlpaCoin USD


Ethereum on Bitstamp in USD

0.47  0.57%
Market Cap: 52.2 M


AlpaCoin on CCEX in USD

0.009249  160.82%
Market Cap: 83.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to under-perform the CCEX AlpaCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Ethereum USD is 4.5 times less risky than CCEX AlpaCoin. The crypto trades about -0.32 of its potential returns per unit of risk. The CCEX AlpaCoin USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  0.58  in CCEX AlpaCoin USD on November 14, 2018 and sell it today you would earn a total of  0.92  from holding CCEX AlpaCoin USD or generate 160.82% return on investment over 30 days.

Pair Corralation between Bitstamp Ethereum and CCEX AlpaCoin

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Bitstamp Ethereum and CCEX AlpaCoin

Bitstamp Ethereum USD diversification synergy

Good diversification

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

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