Pair Correlation Between Tidex Ethereum and Bitstamp Ethereum

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

Tidex

Ethereum on Tidex in USD
 1,553 
(0.003382)  0.0002%
Market Cap: 90.1 K
 446.73 

Bitstamp

Ethereum on Bitstamp in USD
 1,106 
(13.08)  1.17%
Market Cap: 92.5 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  71,300  in Bitstamp Ethereum USD on December 22, 2017 and sell it today you would earn a total of  39,306  from holding Bitstamp Ethereum USD or generate 55.13% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Ethereum and Bitstamp Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy9.68%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Tidex Ethereum USD and Bitstamp Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp Ethereum USD and Tidex 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 Tidex Ethereum USD are associated (or correlated) with Bitstamp Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Ethereum USD has no effect on the direction of Tidex Ethereum i.e. Tidex Ethereum and Bitstamp Ethereum go up and down completely randomly.

Comparative Volatility

Tidex Ethereum USD

  

Tidex Ethereum USD

Pair trading matchups for Tidex Ethereum

Bitstamp Ethereum USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Bitstamp Ethereum USD

Pair trading matchups for Bitstamp Ethereum