Correlation Analysis Between Exmo Ethereum and BitTrex Ethereum

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

Exmo Ethereum USD  vs.  BitTrex Ethereum USD

Exmo

Ethereum on Exmo in USD

 207.00 
1.84  0.90%
Market Cap: 17.9 M
  

BitTrex

Ethereum on BitTrex in USD

 196.47 
2.53  1.27%
Market Cap: 339 K
 10.53 
5.09% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Ethereum USD is expected to generate 1.11 times more return on investment than BitTrex Ethereum. However, Exmo Ethereum is 1.11 times more volatile than BitTrex Ethereum USD. It trades about 0.06 of its potential returns per unit of risk. BitTrex Ethereum USD is currently generating about -0.02 per unit of risk. If you would invest  20,039  in Exmo Ethereum USD on September 15, 2018 and sell it today you would earn a total of  741.00  from holding Exmo Ethereum USD or generate 3.7% return on investment over 30 days.

Pair Corralation between Exmo Ethereum and BitTrex Ethereum

0.44
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy67.74%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Exmo Ethereum USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Ethereum USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
BitTrex Ethereum USD  
0 

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.

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