Correlation Analysis Between Exmo Ethereum and CryptoCarbon CryptoCarbon

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

Exmo Ethereum USD  
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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 fragile performance in the last few months, the Crypto's essential indicators remain comparatively unchanging which may send shares a bit higher in October 2019. The late uproar may also be a sign of mid-term up-swing for the entity leadership.
CryptoCarbon CryptoCarbon  
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Risk-Adjusted Performance

Over the last 30 days CryptoCarbon CryptoCarbon USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Exmo Ethereum and CryptoCarbon CryptoCarbon Volatility Contrast

Exmo Ethereum USD  vs.  CryptoCarbon CryptoCarbon USD

Exmo

Ethereum on Exmo in USD

 219.42 
(1.74)  0.79%
Market Cap: 126.4 M
  

CryptoCarbon

CryptoCarbon on CryptoCarbon in USD

 0.05 
(0.0037)  6.46%
Market Cap: 161
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Ethereum USD is expected to generate 0.12 times more return on investment than CryptoCarbon CryptoCarbon. However, Exmo Ethereum USD is 8.21 times less risky than CryptoCarbon CryptoCarbon. It trades about -0.71 of its potential returns per unit of risk. CryptoCarbon CryptoCarbon USD is currently generating about -0.71 per unit of risk. If you would invest  22,116  in Exmo Ethereum USD on August 22, 2019 and sell it today you would lose (174.00)  from holding Exmo Ethereum USD or give up 0.79% of portfolio value over 30 days.

Pair Corralation between Exmo Ethereum and CryptoCarbon CryptoCarbon

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Ethereum and CryptoCarbon CryptoCarbon

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 CryptoCarbon CryptoCarbon USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CryptoCarbon CryptoCarbon 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 CryptoCarbon CryptoCarbon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CryptoCarbon CryptoCarbon has no effect on the direction of Exmo Ethereum i.e. Exmo Ethereum and CryptoCarbon CryptoCarbon go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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