Correlation Analysis Between Exmo Ethereum and Bitstamp Ethereum

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

Comparative Performance

Exmo Ethereum USD  
1

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo 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.

Exmo Ethereum and Bitstamp Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo Ethereum USD  vs.  Bitstamp Ethereum USD

Exmo

Ethereum on Exmo in USD

 120.60 
0.41  0.00%
Market Cap: 704.2 K
  

Bitstamp

Ethereum on Bitstamp in USD

 117.04 
(5.24)  0.04%
Market Cap: 527.1 M
 3.56 
2.95% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Ethereum is expected to generate 1.48 times less return on investment than Bitstamp Ethereum. In addition to that, Exmo Ethereum is 1.13 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 Exmo Ethereum and Bitstamp Ethereum

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Ethereum and Bitstamp Ethereum

Exmo Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exmo 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 Exmo 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 Exmo 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 Exmo Ethereum i.e. Exmo Ethereum and Bitstamp Ethereum go up and down completely randomly.

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