Correlation Analysis Between P2PB2B Stellar and Bitfinex Ethereum

This module allows you to analyze existing cross correlation between P2PB2B Stellar USD and Bitfinex Ethereum Classic USD. You can compare the effects of market volatilities on P2PB2B Stellar 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 P2PB2B Stellar with a short position of Bitfinex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of P2PB2B Stellar and Bitfinex Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

P2PB2B Stellar USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Stellar USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, P2PB2B Stellar is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Bitfinex Ethereum  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

P2PB2B Stellar and Bitfinex Ethereum Volatility Contrast

P2PB2B Stellar USD  vs.  Bitfinex Ethereum Classic USD

P2PB2B

Stellar on P2PB2B in USD

 0.07 
0.00  0.00%
Market Cap: 1 M
  

Bitfinex

Ethereum Classic on Bitfinex in USD

 6.11 
(0.06)  0.94%
Market Cap: 6.4 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  7.23  in P2PB2B Stellar USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding P2PB2B Stellar USD or generate 0.0% return on investment over 30 days.

Pair Corralation between P2PB2B Stellar and Bitfinex Ethereum

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

Diversification Opportunities for P2PB2B Stellar and Bitfinex Ethereum

P2PB2B Stellar USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding P2PB2B Stellar USD and Bitfinex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Ethereum and P2PB2B Stellar 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 P2PB2B Stellar 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 has no effect on the direction of P2PB2B Stellar i.e. P2PB2B Stellar and Bitfinex Ethereum go up and down completely randomly.
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