Correlation Analysis Between Cexio Ethereum and Bitstamp Ethereum

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

Comparative Performance

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.
Bitstamp Ethereum USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum and Bitstamp Ethereum Volatility Contrast

 Predicted Return Density 

Cexio Ethereum USD  vs.  Bitstamp Ethereum USD


Ethereum on Cexio in USD

0.69  0.01%
Market Cap: 19.7 M


Ethereum on Bitstamp in USD

(6.41)  0.05%
Market Cap: 527.1 M
2.29% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 2.67 times less return on investment than Bitstamp Ethereum. But when comparing it to its historical volatility, Cexio Ethereum USD is 1.02 times less risky than Bitstamp Ethereum. It trades about 0.01 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  12,133  in Bitstamp Ethereum USD on December 22, 2018 and sell it today you would earn a total of  95.00  from holding Bitstamp Ethereum USD or generate 0.78% return on investment over 30 days.

Pair Corralation between Cexio Ethereum and Bitstamp Ethereum

Time Period2 Months [change]
StrengthVery Strong
ValuesDaily Returns

Diversification Opportunities for Cexio Ethereum and Bitstamp 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 Bitstamp Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp 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 Bitstamp Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Ethereum USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and Bitstamp Ethereum go up and down completely randomly.

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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.