Correlation Analysis Between Exmo Ethereum and BitTrex Komodo

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

Comparative Performance

Exmo Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively fragile essential indicators, Exmo Ethereum unveiled solid returns over the last few months and may actually be approaching a breakup point.
BitTrex Komodo USD  
00

Risk-Adjusted Performance

Over the last 30 days BitTrex Komodo USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, BitTrex Komodo is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

Exmo Ethereum and BitTrex Komodo Volatility Contrast

Exmo Ethereum USD  vs.  BitTrex Komodo USD

Exmo

Ethereum on Exmo in USD

 220.74 
0.00  0.00%
Market Cap: 126.4 M
  

BitTrex

Komodo on BitTrex in USD

 0.70 
0.00  0.00%
Market Cap: 1.4 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  20,788  in Exmo Ethereum USD on August 21, 2019 and sell it today you would earn a total of  1,435  from holding Exmo Ethereum USD or generate 6.9% return on investment over 30 days.

Pair Corralation between Exmo Ethereum and BitTrex Komodo

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy33.33%
ValuesDaily Returns

Diversification Opportunities for Exmo Ethereum and BitTrex Komodo

Exmo Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Ethereum USD and BitTrex Komodo USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Komodo 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 Komodo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Komodo USD has no effect on the direction of Exmo Ethereum i.e. Exmo Ethereum and BitTrex Komodo go up and down completely randomly.
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