Correlation Analysis Between Liquid Bitcoin and Exmo Ethereum

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

Liquid Bitcoin USD  
1818

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Liquid Bitcoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days. Despite somewhat fragile basic indicators, Liquid Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Exmo Ethereum USD  
1616

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Ethereum USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Exmo Ethereum unveiled solid returns over the last few months and may actually be approaching a breakup point.

Liquid Bitcoin and Exmo Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  Exmo Ethereum USD

Liquid

Bitcoin on Liquid in USD

 8,845 
170.00  1.96%
Market Cap: 61 B
  

Exmo

Ethereum on Exmo in USD

 267.67 
6.02  2.30%
Market Cap: 141.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin USD is expected to generate 1.08 times more return on investment than Exmo Ethereum. However, Liquid Bitcoin is 1.08 times more volatile than Exmo Ethereum USD. It trades about 0.27 of its potential returns per unit of risk. Exmo Ethereum USD is currently generating about 0.25 per unit of risk. If you would invest  527,834  in Liquid Bitcoin USD on May 18, 2019 and sell it today you would earn a total of  356,666  from holding Liquid Bitcoin USD or generate 67.57% return on investment over 30 days.

Pair Corralation between Liquid Bitcoin and Exmo Ethereum

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and Exmo Ethereum

Liquid Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Bitcoin USD and Exmo Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo 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 Exmo Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Ethereum USD has no effect on the direction of Liquid Bitcoin i.e. Liquid Bitcoin and Exmo Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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