Correlation Analysis Between Cexio Ethereum and Bitfinex Ethereum

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

Comparative Performance

Cexio Ethereum USD  
1

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Ethereum USD  
0

Risk-Adjusted Performance

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

Cexio Ethereum and Bitfinex Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Ethereum USD  vs.  Bitfinex Ethereum USD

Cexio

Ethereum on Cexio in USD

 118.04 
(7.48)  0.06%
Market Cap: 19.7 M
  

Bitfinex

Ethereum on Bitfinex in USD

 117.20 
(9.70)  0.08%
Market Cap: 3 B
 0.84 
0.71% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to generate 0.92 times more return on investment than Bitfinex Ethereum. However, Cexio Ethereum USD is 1.08 times less risky than Bitfinex Ethereum. It trades about 0.02 of its potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about 0.01 per unit of risk. If you would invest  12,445  in Cexio Ethereum USD on December 22, 2018 and sell it today you would lose (602.00)  from holding Cexio Ethereum USD or give up 4.84% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and Bitfinex Ethereum

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Cexio Ethereum and Bitfinex Ethereum

Cexio Ethereum USD diversification synergy

Almost no diversification

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

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