Correlation Analysis Between Liquid Bitcoin and Cexio Ethereum

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

Comparative Performance

Liquid Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Liquid Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Ethereum USD  
3

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Liquid Bitcoin and Cexio Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  Cexio Ethereum USD

Liquid

Bitcoin on Liquid in USD

 3,580 
(308.38)  7.93%
Market Cap: 7 B
  

Cexio

Ethereum on Cexio in USD

 125.90 
1.19  0.95%
Market Cap: 33.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin is expected to generate 3.58 times less return on investment than Cexio Ethereum. But when comparing it to its historical volatility, Liquid Bitcoin USD is 1.83 times less risky than Cexio Ethereum. It trades about 0.03 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  11,720  in Cexio Ethereum USD on January 20, 2019 and sell it today you would earn a total of  870.00  from holding Cexio Ethereum USD or generate 7.42% return on investment over 30 days.

Pair Corralation between Liquid Bitcoin and Cexio Ethereum

0.54
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy95.0%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and Cexio Ethereum

Liquid Bitcoin USD diversification synergy

Very weak diversification

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

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Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum

See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
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