Correlation Analysis Between Exenium Ethereum and Bitfinex Ethereum

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

Comparative Performance

Exenium Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exenium Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably weak technical indicators, Exenium Ethereum revealed solid returns over the last few months and may actually be approaching a breakup point.
Bitfinex Ethereum USD  
00

Risk-Adjusted Performance

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

Exenium Ethereum and Bitfinex Ethereum Volatility Contrast

Exenium Ethereum USD  vs.  Bitfinex Ethereum USD

Exenium

Ethereum on Exenium in USD

 0.00 
0.00  0.00%
Market Cap: 3.3 M
  

Bitfinex

Ethereum on Bitfinex in USD

 0.00 
0.00  0.00%
Market Cap: 1.9 B
 0.00 
?% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  20,117  in Exenium Ethereum USD on August 21, 2019 and sell it today you would earn a total of  1,163  from holding Exenium Ethereum USD or generate 5.78% return on investment over 30 days.

Pair Corralation between Exenium Ethereum and Bitfinex Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for Exenium Ethereum and Bitfinex Ethereum

Exenium Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exenium 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 Exenium 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 Exenium 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 Exenium Ethereum i.e. Exenium Ethereum and Bitfinex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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