Correlation Analysis Between BitTrex Ethereum and Binance Ethereum

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

Comparative Performance

BitTrex Ethereum USD  
00

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

BitTrex Ethereum and Binance Ethereum Volatility Contrast

BitTrex Ethereum USD  vs.  Binance Ethereum USD

BitTrex

Ethereum on BitTrex in USD

 198.12 
0.00  0.00%
Market Cap: 75.3 M
  

Binance

Ethereum on Binance in USD

 197.02 
0.00  0.00%
Market Cap: 626.4 K
 1.10 
0.56% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in Binance Ethereum USD on August 18, 2019 and sell it today you would earn a total of  100.00  from holding Binance Ethereum USD or generate -100.0% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Binance Ethereum

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

Diversification Opportunities for BitTrex Ethereum and Binance Ethereum

BitTrex Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum USD and Binance Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Binance Ethereum USD and BitTrex 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 BitTrex Ethereum USD are associated (or correlated) with Binance Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Binance Ethereum USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and Binance Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.


 
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