Correlation Analysis Between BitTrex Ethereum and Bitforex Ethereum

This module allows you to analyze existing cross correlation between BitTrex Ethereum USD and Bitforex Ethereum USD. You can compare the effects of market volatilities on BitTrex Ethereum and Bitforex 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 Bitforex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of BitTrex Ethereum and Bitforex 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.
Bitforex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex 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 Bitforex Ethereum Volatility Contrast

BitTrex Ethereum USD  vs.  Bitforex Ethereum USD

BitTrex

Ethereum on BitTrex in USD

 213.44 
0.00  0.00%
Market Cap: 75.3 M
  

Bitforex

Ethereum on Bitforex in USD

 196.74 
0.00  0.00%
Market Cap: 6.6 M
 16.70 
7.82% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  19,674  in Bitforex Ethereum USD on August 18, 2019 and sell it today you would earn a total of  0.00  from holding Bitforex Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Bitforex Ethereum

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

Diversification Opportunities for BitTrex Ethereum and Bitforex 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 Bitforex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitforex 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 Bitforex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitforex Ethereum USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and Bitforex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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