Correlation Analysis Between HitBTC Ethereum and Bitstamp Ethereum

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

HitBTC Ethereum USD  vs.  Bitstamp Ethereum USD

HitBTC

Ethereum on HitBTC in USD

 196.90 
0.00  0.00%
Market Cap: 9.3 K
  

Bitstamp

Ethereum on Bitstamp in USD

 211.10 
0.50  0.24%
Market Cap: 48.5 M
(14.20)
7.21% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  19,690  in HitBTC Ethereum USD on August 20, 2018 and sell it today you would earn a total of  0.00  from holding HitBTC Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between HitBTC Ethereum and Bitstamp Ethereum

0.02
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy8.7%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitstamp Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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