Coinbase Ethereum USD vs. Bitfinex Ethereum USD
Assuming 30 trading days horizon, Coinbase Ethereum USD is expected to under-perform the Bitfinex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Ethereum USD is 1.05 times less risky than Bitfinex Ethereum. The crypto trades about -0.06 of its potential returns per unit of risk. The Bitfinex Ethereum USD is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest 58,404 in Bitfinex Ethereum USD on May 23, 2018 and sell it today you would lose (6,802) from holding Bitfinex Ethereum USD or give up 11.65% of portfolio value over 30 days.
Pair Corralation between Coinbase Ethereum and Bitfinex Ethereum
|Time Period||1 Month [change]|
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Ethereum USD and Bitfinex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Ethereum USD and Coinbase 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 Coinbase Ethereum USD are associated (or correlated) with Bitfinex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Ethereum USD has no effect on the direction of Coinbase Ethereum i.e. Coinbase Ethereum and Bitfinex Ethereum go up and down completely randomly.
Over the last 30 days Coinbase Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Bitfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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