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
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.
Exmo Ethereum USD  
3

Risk-Adjusted Performance

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

Liquid Bitcoin and Exmo Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  Exmo Ethereum USD

Liquid

Bitcoin on Liquid in USD

 3,580 
3.11  0.09%
Market Cap: 7 B
  

Exmo

Ethereum on Exmo in USD

 123.92 
(0.47)  0.38%
Market Cap: 27.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin USD is expected to under-perform the Exmo Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Liquid Bitcoin USD is 2.05 times less risky than Exmo Ethereum. The crypto trades about -0.01 of its potential returns per unit of risk. The Exmo Ethereum USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  11,785  in Exmo Ethereum USD on January 18, 2019 and sell it today you would earn a total of  654.00  from holding Exmo Ethereum USD or generate 5.55% return on investment over 30 days.

Pair Corralation between Liquid Bitcoin and Exmo Ethereum

0.59
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy92.86%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and Exmo 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 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.

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Exmo Ethereum USD

Pair trading matchups for Exmo Ethereum

See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.


 
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