Correlation Analysis Between BTCAlpha Ethereum and Bitforex Ethereum

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

BTCAlpha Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, BTCAlpha Ethereum is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.
Bitforex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Ethereum is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

BTCAlpha Ethereum and Bitforex Ethereum Volatility Contrast

BTCAlpha Ethereum USD  vs.  Bitforex Ethereum USD

BTCAlpha

Ethereum on BTCAlpha in USD

 216.17 
0.33  0.15%
Market Cap: 53.7 M
  

Bitforex

Ethereum on Bitforex in USD

 204.50 
0.00  0.00%
Market Cap: 6.6 M
 11.67 
5.40% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  21,584  in BTCAlpha Ethereum USD on August 22, 2019 and sell it today you would earn a total of  33.00  from holding BTCAlpha Ethereum USD or generate 0.15% return on investment over 30 days.

Pair Corralation between BTCAlpha Ethereum and Bitforex Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for BTCAlpha Ethereum and Bitforex Ethereum

BTCAlpha Ethereum USD diversification synergy

Pay attention

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