Correlation Analysis Between coinfield Ethereum and BitTrex Ethereum

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

Comparative Performance

coinfield Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
BitTrex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, BitTrex Ethereum is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

coinfield Ethereum and BitTrex Ethereum Volatility Contrast

coinfield Ethereum USD  vs.  BitTrex Ethereum USD

coinfield

Ethereum on coinfield in USD

 215.74 
(1.52)  0.70%
Market Cap: 257 K
  

BitTrex

Ethereum on BitTrex in USD

 217.78 
0.40  0.18%
Market Cap: 75.3 M
(2.04)
0.95% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, coinfield Ethereum USD is expected to under-perform the BitTrex Ethereum. In addition to that, coinfield Ethereum is 4.11 times more volatile than BitTrex Ethereum USD. It trades about -0.71 of its total potential returns per unit of risk. BitTrex Ethereum USD is currently generating about -0.71 per unit of volatility. If you would invest  21,738  in BitTrex Ethereum USD on August 22, 2019 and sell it today you would lose (37.00)  from holding BitTrex Ethereum USD or give up 0.17% of portfolio value over 30 days.

Pair Corralation between coinfield Ethereum and BitTrex Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for coinfield Ethereum and BitTrex Ethereum

coinfield Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding coinfield Ethereum USD and BitTrex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum USD and coinfield 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 coinfield Ethereum USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum USD has no effect on the direction of coinfield Ethereum i.e. coinfield Ethereum and BitTrex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
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