Correlation Analysis 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.
Horizon     30 Days    Login   to change
Symbolsvs

Cexio Ethereum USD  vs.  BitTrex Ethereum Classic USD

Cexio

Ethereum on Cexio in USD

 89.88 
0.31  0.35%
Market Cap: 52.3 M
  

BitTrex

Ethereum Classic on BitTrex in USD

 3.73 
(0.02)  0.53%
Market Cap: 21.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the BitTrex Ethereum. In addition to that, Cexio Ethereum is 1.01 times more volatile than BitTrex Ethereum Classic USD. It trades about -0.36 of its total potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.27 per unit of volatility. If you would invest  925.00  in BitTrex Ethereum Classic USD on November 13, 2018 and sell it today you would lose (550.00)  from holding BitTrex Ethereum Classic USD or give up 59.46% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and BitTrex Ethereum

0.8
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy71.67%
ValuesDaily Returns

Diversification

Cexio Ethereum USD diversification synergy

Very poor 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  
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.
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.

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