Correlation Analysis Between CCEX CryptoCarbon and Cexio Ethereum

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

CCEX CryptoCarbon USD  vs.  Cexio Ethereum USD


CryptoCarbon on CCEX in USD
0.01785  36.60%
Market Cap: 17.0


Ethereum on Cexio in USD
4.53  0.90%
Market Cap: 1 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, CCEX CryptoCarbon USD is expected to generate 4.6 times more return on investment than Cexio Ethereum. However, CCEX CryptoCarbon is 4.6 times more volatile than Cexio Ethereum USD. It trades about 0.05 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.19 per unit of risk. If you would invest  11.00  in CCEX CryptoCarbon USD on May 19, 2018 and sell it today you would lose (4.34)  from holding CCEX CryptoCarbon USD or give up 39.44% of portfolio value over 30 days.

Pair Corralation between CCEX CryptoCarbon and Cexio Ethereum

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding CCEX CryptoCarbon 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 CryptoCarbon 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 CryptoCarbon 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 CryptoCarbon i.e. CCEX CryptoCarbon and Cexio Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
CCEX CryptoCarbon USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX CryptoCarbon USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Cexio Ethereum USD  

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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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.