Pair Correlation Between Cexio Ethereum and BitTrex Ethereum

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

Cexio

Ethereum on Cexio in USD
 1,039 
131.51  14.49%
Market Cap: 12.9 B

BitTrex

Ethereum Classic on BitTrex in USD
 26 
1  4%
Market Cap: 88.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to generate 0.76 times more return on investment than BitTrex Ethereum. However, Cexio Ethereum USD is 1.32 times less risky than BitTrex Ethereum. It trades about 0.19 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.01 per unit of risk. If you would invest  84,601  in Cexio Ethereum USD on December 17, 2017 and sell it today you would earn a total of  31,403  from holding Cexio Ethereum USD or generate 37.12% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and BitTrex Ethereum
0.9

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Ethereum USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

BitTrex Ethereum Cla

  
0 

Risk-Adjusted Performance

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