Correlation Analysis Between Ethfinex Ethereum and ExtStock Ethereum

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

Ethfinex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Ethfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Ethfinex Ethereum is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
ExtStock Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days ExtStock Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Ethfinex Ethereum and ExtStock Ethereum Volatility Contrast

Ethfinex Ethereum USD  vs.  ExtStock Ethereum USD

Ethfinex

Ethereum on Ethfinex in USD

 216.28 
(2.18)  1.00%
Market Cap: 1.3 B
  

ExtStock

Ethereum on ExtStock in USD

 213.82 
(2.20)  1.02%
Market Cap: 390.7 M
 2.46 
1.14% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  21,846  in Ethfinex Ethereum USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding Ethfinex Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Ethfinex Ethereum and ExtStock Ethereum

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

Diversification Opportunities for Ethfinex Ethereum and ExtStock Ethereum

Ethfinex Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Ethfinex Ethereum USD and ExtStock Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ExtStock Ethereum USD and Ethfinex 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 Ethfinex Ethereum USD are associated (or correlated) with ExtStock Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ExtStock Ethereum USD has no effect on the direction of Ethfinex Ethereum i.e. Ethfinex Ethereum and ExtStock Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.


 
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