Correlation Analysis Between Bitfinex Golem and Exmo Ethereum

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

Bitfinex Golem Network  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Golem Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Golem is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
Exmo Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unchanging essential indicators, Exmo Ethereum is not utilizing all of its potentials. The prevalent stock price uproar, may contribute to short horizon losses for the leadership.

Bitfinex Golem and Exmo Ethereum Volatility Contrast

Bitfinex Golem Network Token U  vs.  Exmo Ethereum USD

Bitfinex

Golem Network Token on Bitfinex in USD

 0.06 
0.00  0.00%
Market Cap: 276
  

Exmo

Ethereum on Exmo in USD

 200.59 
0.88  0.44%
Market Cap: 126.4 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  19,971  in Exmo Ethereum USD on August 18, 2019 and sell it today you would earn a total of  0.00  from holding Exmo Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex Golem and Exmo Ethereum

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

Diversification Opportunities for Bitfinex Golem and Exmo Ethereum

Bitfinex Golem Network Token U diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Golem Network Token U 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 Bitfinex Golem 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 Bitfinex Golem Network Token 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 Bitfinex Golem i.e. Bitfinex Golem and Exmo Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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