Pair Correlation Between Cexio Ethereum and Coinbase Ethereum

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

Cexio Ethereum USD  vs.  Coinbase Ethereum USD

Cexio

Ethereum on Cexio in USD
 596.11 
16.04  2.62%
Market Cap: 754.6 M
  

Coinbase

Ethereum on Coinbase in USD
 606.00 
2.58  0.42%
Market Cap: 30.6 B
(9.89)
1.66% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the Coinbase Ethereum. In addition to that, Cexio Ethereum is 1.01 times more volatile than Coinbase Ethereum USD. It trades about -0.1 of its total potential returns per unit of risk. Coinbase Ethereum USD is currently generating about -0.09 per unit of volatility. If you would invest  83,867  in Coinbase Ethereum USD on March 22, 2018 and sell it today you would lose (24,913)  from holding Coinbase Ethereum USD or give up 29.71% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and Coinbase Ethereum

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Risk-Adjusted Performance

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

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
$1072.96

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 Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.