Correlation Analysis Between Coinbase Ethereum and HitBTC Ethereum

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

Coinbase Ethereum USD  vs.  HitBTC Ethereum USD

Coinbase

Ethereum on Coinbase in USD

 204.58 
7.86  4.00%
Market Cap: 145.9 M
  

HitBTC

Ethereum on HitBTC in USD

 209.03 
0.00  0.00%
Market Cap: 19.9 K
(4.45)
2.18% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  19,709  in Coinbase Ethereum USD on September 15, 2018 and sell it today you would earn a total of  672.00  from holding Coinbase Ethereum USD or generate 3.41% return on investment over 30 days.

Pair Corralation between Coinbase Ethereum and HitBTC Ethereum

0.04
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy4.76%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Ethereum USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Ethereum USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
HitBTC Ethereum USD  
0 

Risk-Adjusted Performance

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

My Equities

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ExchangeNASDAQ
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