Pair Correlation 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Exmo Ethereum USD  vs   Bitstamp Ethereum USD

Exmo

Ethereum on Exmo in USD
 1,236 
58.93  5.01%
Market Cap: 5.6 B
 120.16 

Bitstamp

Ethereum on Bitstamp in USD
 1,116 
49.09  4.6%
Market Cap: 92.5 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Ethereum USD is expected to generate 0.93 times more return on investment than Bitstamp Ethereum. However, Exmo Ethereum USD is 1.08 times less risky than Bitstamp Ethereum. It trades about 0.32 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about 0.26 per unit of risk. If you would invest  65,988  in Exmo Ethereum USD on December 21, 2017 and sell it today you would earn a total of  51,729  from holding Exmo Ethereum USD or generate 78.39% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Exmo Ethereum and Bitstamp Ethereum
0.99

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.77%
ValuesDaily Returns

Diversification

No risk reduction

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.

Comparative Volatility

 Predicted Return Density 
      Returns 

Exmo Ethereum USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Ethereum USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

Exmo Ethereum USD

Pair trading matchups for Exmo Ethereum

Bitstamp Ethereum USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Bitstamp Ethereum USD

Pair trading matchups for Bitstamp Ethereum