Correlation Analysis Between Bitstamp Ethereum and HitBTC Ethereum

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

Comparative Performance

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.
HitBTC Ethereum USD  
0

Risk-Adjusted Performance

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

Bitstamp Ethereum and HitBTC Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Bitstamp Ethereum USD  vs.  HitBTC Ethereum USD

Bitstamp

Ethereum on Bitstamp in USD

 85.50 
2.07  2.48%
Market Cap: 36 M
  

HitBTC

Ethereum on HitBTC in USD

 516.00 
(77.79)  13.10%
Market Cap: 23.4 K
(430.50)
503.51% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  51,600  in HitBTC Ethereum USD on November 17, 2018 and sell it today you would earn a total of  0.00  from holding HitBTC Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitstamp Ethereum and HitBTC Ethereum

0.83
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy2.33%
ValuesDaily Returns

Diversification Opportunities for Bitstamp Ethereum and HitBTC Ethereum

Bitstamp Ethereum USD diversification synergy

Very poor diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com