Correlation Analysis Between CCEX Asiadigicoin and Cexio Ethereum

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

CCEX Asiadigicoin USD  vs.  Cexio Ethereum USD

CCEX

Asiadigicoin on CCEX in USD
 0.001992 
0.000607  43.83%
Market Cap: 4.0
  

Cexio

Ethereum on Cexio in USD
 466.70 
6.70  1.46%
Market Cap: 859.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Asiadigicoin USD is expected to generate 2.42 times more return on investment than Cexio Ethereum. However, CCEX Asiadigicoin is 2.42 times more volatile than Cexio Ethereum USD. It trades about 0.28 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.0 per unit of risk. If you would invest  0.11  in CCEX Asiadigicoin USD on June 22, 2018 and sell it today you would earn a total of  0.09  from holding CCEX Asiadigicoin USD or generate 85.99% return on investment over 30 days.

Pair Corralation between CCEX Asiadigicoin and Cexio Ethereum

-0.06
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
CCEX Asiadigicoin USD  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Asiadigicoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.
Cexio Ethereum USD  
0 

Risk-Adjusted Performance

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

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