Correlation Analysis Between Exmo Ethereum and itBit Ethereum

This module allows you to analyze existing cross correlation between Exmo Ethereum USD and itBit Ethereum USD. You can compare the effects of market volatilities on Exmo Ethereum and itBit 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 itBit Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Ethereum and itBit Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
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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 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.
itBit Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days itBit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, itBit Ethereum is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

Exmo Ethereum and itBit Ethereum Volatility Contrast

Exmo Ethereum USD  vs.  itBit Ethereum USD

Exmo

Ethereum on Exmo in USD

 220.03 
(1.13)  0.51%
Market Cap: 126.4 M
  

itBit

Ethereum on itBit in USD

 216.60 
0.00  0.00%
Market Cap: 138.1 M
 3.43 
1.56% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  21,660  in itBit Ethereum USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding itBit Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Exmo Ethereum and itBit Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Ethereum and itBit Ethereum

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 itBit Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit 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 itBit Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Ethereum USD has no effect on the direction of Exmo Ethereum i.e. Exmo Ethereum and itBit Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.


 
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