Correlation Analysis Between OKCoin Ethereum and Bitfinex Ethereum

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

Comparative Performance

OKCoin Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days OKCoin Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Bitfinex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather fragile fundamental drivers, Bitfinex Ethereum exhibited solid returns over the last few months and may actually be approaching a breakup point.

OKCoin Ethereum and Bitfinex Ethereum Volatility Contrast

OKCoin Ethereum USD  vs.  Bitfinex Ethereum USD

OKCoin

Ethereum on OKCoin in USD

 216.26 
(1.35)  0.62%
Market Cap: 2.1 M
  

Bitfinex

Ethereum on Bitfinex in USD

 217.27 
0.09  0.0414%
Market Cap: 1.9 B
(1.01)
0.47% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Ethereum USD is expected to under-perform the Bitfinex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, OKCoin Ethereum USD is 1.28 times less risky than Bitfinex Ethereum. The crypto trades about -0.71 of its potential returns per unit of risk. The Bitfinex Ethereum USD is currently generating about 0.71 of returns per unit of risk over similar time horizon. If you would invest  21,718  in Bitfinex Ethereum USD on August 22, 2019 and sell it today you would earn a total of  172.00  from holding Bitfinex Ethereum USD or generate 0.79% return on investment over 30 days.

Pair Corralation between OKCoin Ethereum and Bitfinex Ethereum

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

Diversification Opportunities for OKCoin Ethereum and Bitfinex Ethereum

OKCoin Ethereum USD diversification synergy

Pay attention

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


 
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