Correlation Analysis Between Exmo Ethereum and OKCoin Bitcoin

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

Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

Exmo Ethereum and OKCoin Bitcoin Volatility Contrast

Exmo Ethereum USD  vs.  OKCoin Bitcoin USD

Exmo

Ethereum on Exmo in USD

 218.97 
(2.19)  0.99%
Market Cap: 126.4 M
  

OKCoin

Bitcoin on OKCoin in USD

 9,983 
(116.72)  1.16%
Market Cap: 29.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Ethereum USD is expected to under-perform the OKCoin Bitcoin. In addition to that, Exmo Ethereum is 1.92 times more volatile than OKCoin Bitcoin USD. It trades about -0.71 of its total potential returns per unit of risk. OKCoin Bitcoin USD is currently generating about -0.71 per unit of volatility. If you would invest  1,009,982  in OKCoin Bitcoin USD on August 22, 2019 and sell it today you would lose (2,693)  from holding OKCoin Bitcoin USD or give up 0.27% of portfolio value over 30 days.

Pair Corralation between Exmo Ethereum and OKCoin Bitcoin

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

Diversification Opportunities for Exmo Ethereum and OKCoin Bitcoin

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 OKCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin Bitcoin 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 OKCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Bitcoin USD has no effect on the direction of Exmo Ethereum i.e. Exmo Ethereum and OKCoin Bitcoin go up and down completely randomly.
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