Pair Correlation Between Bitstamp Ethereum and Exmo Ethereum

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

Bitstamp Ethereum USD  vs.  Exmo Ethereum USD

Bitstamp

Ethereum on Bitstamp in USD
 604.23 
1.38  0.23%
Market Cap: 7.5 B
  

Exmo

Ethereum on Exmo in USD
 602.81 
1.18  0.20%
Market Cap: 450.5 M
 1.42 
0.24% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to generate 0.98 times more return on investment than Exmo Ethereum. However, Bitstamp Ethereum USD is 1.02 times less risky than Exmo Ethereum. It trades about -0.08 of its potential returns per unit of risk. Exmo Ethereum USD is currently generating about -0.09 per unit of risk. If you would invest  81,078  in Bitstamp Ethereum USD on March 23, 2018 and sell it today you would lose (20,655)  from holding Bitstamp Ethereum USD or give up 25.48% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and Exmo Ethereum

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Ethereum USD  
0 

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.
Exmo Ethereum USD  
0 

Risk-Adjusted Performance

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

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