Correlation Analysis Between Liquid Ethereum and Bitforex Ethereum

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

Liquid Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, Liquid Ethereum sustained solid returns over the last few months and may actually be approaching a breakup point.
Bitforex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Ethereum is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

Liquid Ethereum and Bitforex Ethereum Volatility Contrast

Liquid Ethereum USD  vs.  Bitforex Ethereum USD

Liquid

Ethereum on Liquid in USD

 222.95 
19.01  9.32%
Market Cap: 60 M
  

Bitforex

Ethereum on Bitforex in USD

 204.50 
0.00  0.00%
Market Cap: 6.6 M
 18.45 
8.28% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  20,394  in Liquid Ethereum USD on August 20, 2019 and sell it today you would earn a total of  1,901  from holding Liquid Ethereum USD or generate 9.32% return on investment over 30 days.

Pair Corralation between Liquid Ethereum and Bitforex Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for Liquid Ethereum and Bitforex Ethereum

Liquid Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Ethereum USD and Bitforex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitforex Ethereum USD and Liquid 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 Liquid Ethereum USD are associated (or correlated) with Bitforex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitforex Ethereum USD has no effect on the direction of Liquid Ethereum i.e. Liquid Ethereum and Bitforex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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