Correlation Analysis Between Bitstamp Ethereum and ExtStock Ethereum

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

Comparative Performance

Bitstamp Ethereum USD  
00

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. Even with fragile performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in October 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.
ExtStock Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days ExtStock Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Bitstamp Ethereum and ExtStock Ethereum Volatility Contrast

Bitstamp Ethereum USD  vs.  ExtStock Ethereum USD

Bitstamp

Ethereum on Bitstamp in USD

 213.96 
(3.75)  1.72%
Market Cap: 453.8 M
  

ExtStock

Ethereum on ExtStock in USD

 213.96 
(2.06)  0.95%
Market Cap: 390.7 M
 0.00 
0.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to generate 0.62 times more return on investment than ExtStock Ethereum. However, Bitstamp Ethereum USD is 1.62 times less risky than ExtStock Ethereum. It trades about -0.71 of its potential returns per unit of risk. ExtStock Ethereum USD is currently generating about -0.71 per unit of risk. If you would invest  21,771  in Bitstamp Ethereum USD on August 22, 2019 and sell it today you would lose (128.00)  from holding Bitstamp Ethereum USD or give up 0.59% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and ExtStock Ethereum

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

Diversification Opportunities for Bitstamp Ethereum and ExtStock Ethereum

Bitstamp Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp Ethereum USD and ExtStock Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ExtStock 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 ExtStock Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ExtStock Ethereum USD has no effect on the direction of Bitstamp Ethereum i.e. Bitstamp Ethereum and ExtStock Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.


 
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