Pair Correlation Between HitBTC Ethereum and Tidex Ethereum

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

HitBTC

Ethereum on HitBTC in USD
 1,048 
45.32  4.52%
Market Cap: 13.2 B
(504.39)

Tidex

Ethereum on Tidex in USD
 1,553 
(0.003382)  0.0002%
Market Cap: 90.1 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  77,738  in HitBTC Ethereum USD on December 20, 2017 and sell it today you would earn a total of  29,287  from holding HitBTC Ethereum USD or generate 37.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Ethereum and Tidex Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy3.33%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

HitBTC Ethereum USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Ethereum USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

HitBTC Ethereum USD

Pair trading matchups for HitBTC Ethereum

Tidex Ethereum USD

  

Tidex Ethereum USD

Pair trading matchups for Tidex Ethereum