Correlation Analysis Between Coinbase Ethereum and Bitstamp Ethereum

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

Comparative Performance

Coinbase Ethereum USD  
1

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Bitstamp Ethereum USD  
2

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Coinbase Ethereum and Bitstamp Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Coinbase Ethereum USD  vs.  Bitstamp Ethereum USD

Coinbase

Ethereum on Coinbase in USD

 116.21 
(8.24)  0.07%
Market Cap: 910.6 M
  

Bitstamp

Ethereum on Bitstamp in USD

 115.87 
(6.41)  0.05%
Market Cap: 527.1 M
 0.34 
0.29% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Ethereum is expected to generate 1.8 times less return on investment than Bitstamp Ethereum. In addition to that, Coinbase Ethereum is 1.06 times more volatile than Bitstamp Ethereum USD. It trades about 0.02 of its total potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about 0.04 per unit of volatility. If you would invest  12,133  in Bitstamp Ethereum USD on December 22, 2018 and sell it today you would earn a total of  95.00  from holding Bitstamp Ethereum USD or generate 0.78% return on investment over 30 days.

Pair Corralation between Coinbase Ethereum and Bitstamp Ethereum

0.91
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for Coinbase Ethereum and Bitstamp Ethereum

Coinbase Ethereum USD diversification synergy

Almost no diversification

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

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