This module allows you to analyze existing cross correlation between itBit Ethereum USD and Ethfinex Ethereum USD. You can compare the effects of market volatilities on itBit Ethereum and Ethfinex 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 itBit Ethereum with a short position of Ethfinex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of itBit Ethereum and Ethfinex Ethereum.
|Horizon||30 Days Login to change|
|itBit Ethereum USD|
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 fragile fundamental drivers, itBit Ethereum exhibited solid returns over the last few months and may actually be approaching a breakup point.
|Ethfinex Ethereum USD|
Over the last 30 days Ethfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather fragile fundamental drivers, Ethfinex Ethereum exhibited solid returns over the last few months and may actually be approaching a breakup point.
itBit Ethereum and Ethfinex Ethereum Volatility Contrast
itBit Ethereum USD vs. Ethfinex Ethereum USD
Assuming 30 trading days horizon, itBit Ethereum USD is expected to generate 1.02 times more return on investment than Ethfinex Ethereum. However, itBit Ethereum is 1.02 times more volatile than Ethfinex Ethereum USD. It trades about 0.71 of its potential returns per unit of risk. Ethfinex Ethereum USD is currently generating about 0.71 per unit of risk. If you would invest 20,570 in itBit Ethereum USD on August 20, 2019 and sell it today you would earn a total of 340.00 from holding itBit Ethereum USD or generate 1.65% return on investment over 30 days.
Pair Corralation between itBit Ethereum and Ethfinex Ethereum
|Time Period||3 Months [change]|
Diversification Opportunities for itBit Ethereum and Ethfinex Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding itBit Ethereum USD and Ethfinex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Ethfinex Ethereum USD and itBit 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 itBit Ethereum USD are associated (or correlated) with Ethfinex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ethfinex Ethereum USD has no effect on the direction of itBit Ethereum i.e. itBit Ethereum and Ethfinex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.