Correlation Analysis Between Cexio Ethereum and Coinbase Bitcoin

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

Cexio Ethereum USD  vs.  Coinbase Bitcoin USD

Cexio

Ethereum on Cexio in USD

 210.17 
1.69  0.81%
Market Cap: 189.3 M
  

Coinbase

Bitcoin on Coinbase in USD

 6,439 
12.58  0.20%
Market Cap: 51.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to generate 2.47 times more return on investment than Coinbase Bitcoin. However, Cexio Ethereum is 2.47 times more volatile than Coinbase Bitcoin USD. It trades about 0.08 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.07 per unit of risk. If you would invest  19,654  in Cexio Ethereum USD on September 17, 2018 and sell it today you would earn a total of  1,363  from holding Cexio Ethereum USD or generate 6.93% return on investment over 30 days.

Pair Corralation between Cexio Ethereum and Coinbase Bitcoin

0.9
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 Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin 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 Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and Coinbase Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Cexio Ethereum USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1121.28

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.


 
Search macroaxis.com