Pair Correlation Between Bitstamp Ethereum and Tidex Ethereum

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

Bitstamp

Ethereum on Bitstamp in USD
 947.98 
3.45  0.37%
Market Cap: 32.9 B
 947.98 

Tidex

Ethereum on Tidex in USD
 0.00 
1,008  100.00%
Market Cap: 96 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  100,025  in Bitstamp Ethereum USD on January 21, 2018 and sell it today you would lose (5,227)  from holding Bitstamp Ethereum USD or give up 5.23% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Bitstamp Ethereum and Tidex Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy3.23%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Bitstamp Ethereum USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.