Correlation Analysis Between Exmo Monero and Bitfinex Recovery

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

Exmo Monero USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with fragile performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in October 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.
Bitfinex Recovery Right  
00

Risk-Adjusted Performance

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

Exmo Monero and Bitfinex Recovery Volatility Contrast

Exmo Monero USD  vs.  Bitfinex Recovery Right Tokens

Exmo

Monero on Exmo in USD

 73.86 
(0.68)  0.91%
Market Cap: 5.1 M
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.0385 
0.00  0.00%
Market Cap: 224
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  3.85  in Bitfinex Recovery Right Tokens USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding Bitfinex Recovery Right Tokens USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Exmo Monero and Bitfinex Recovery

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

Diversification Opportunities for Exmo Monero and Bitfinex Recovery

Exmo Monero USD diversification synergy

Pay attention

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