Pair Correlation Between Cexio Ethereum and HitBTC Stratis

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

Cexio

Ethereum on Cexio in USD
 1,037 
(27.57)  2.59%
Market Cap: 7.8 B

HitBTC

Stratis on HitBTC in USD
 11.91 
(0.49)  3.95%
Market Cap: 10.5 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 HitBTC Stratis. However, Cexio Ethereum USD is 1.32 times less risky than HitBTC Stratis. It trades about 0.13 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about 0.0 per unit of risk. If you would invest  81,802  in Cexio Ethereum USD on December 24, 2017 and sell it today you would earn a total of  21,918  from holding Cexio Ethereum USD or generate 26.79% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and HitBTC Stratis
0.75

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Ethereum USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

  
0 

Risk-Adjusted Performance

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