Correlation Analysis Between itBit Ethereum and Exenium Ethereum

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

itBit Ethereum USD  
00

Risk-Adjusted Performance

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 sound fundamental drivers, itBit Ethereum is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
Exenium Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exenium Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Exenium Ethereum is not utilizing all of its potentials. The prevalent stock price chaos, may contribute to medium term losses for the stakeholders.

itBit Ethereum and Exenium Ethereum Volatility Contrast

itBit Ethereum USD  vs.  Exenium Ethereum USD

itBit

Ethereum on itBit in USD

 215.00 
(1.60)  0.74%
Market Cap: 138.1 M
  

Exenium

Ethereum on Exenium in USD

 211.02 
(1.89)  0.89%
Market Cap: 3.3 M
 3.98 
1.85% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  21,291  in Exenium Ethereum USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding Exenium Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between itBit Ethereum and Exenium Ethereum

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

Diversification Opportunities for itBit Ethereum and Exenium Ethereum

itBit Ethereum USD diversification synergy

Pay attention

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