Pair Correlation Between Coinbase Bitcoin and Cexio Ethereum

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


Bitcoin on Coinbase in USD
499.28  4.50%
Market Cap: 1783.9 B


Ethereum on Cexio in USD
3.47  0.36%
Market Cap: 1.8 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.85 times more return on investment than Cexio Ethereum. However, Coinbase Bitcoin USD is 1.17 times less risky than Cexio Ethereum. It trades about 0.07 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.01 per unit of risk. If you would invest  1,034,482  in Coinbase Bitcoin USD on January 21, 2018 and sell it today you would earn a total of  75,090  from holding Coinbase Bitcoin USD or generate 7.26% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinbase Bitcoin and Cexio Ethereum


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 

Coinbase Bitcoin USD


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.

Cexio Ethereum USD


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.