Correlation Analysis Between Exmo Ethereum and Bitfinex Verge

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

Comparative Performance

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 fragile essential indicators, Exmo Ethereum unveiled solid returns over the last few months and may actually be approaching a breakup point.
Bitfinex Verge USD  
00

Risk-Adjusted Performance

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

Exmo Ethereum and Bitfinex Verge Volatility Contrast

Exmo Ethereum USD  vs.  Bitfinex Verge USD

Exmo

Ethereum on Exmo in USD

 212.03 
12.32  6.17%
Market Cap: 126.4 M
  

Bitfinex

Verge on Bitfinex in USD

 0.004222 
0.00  0.00%
Market Cap: 26.0
 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  437.00  from holding Exmo Ethereum USD or generate 2.19% return on investment over 30 days.

Pair Corralation between Exmo Ethereum and Bitfinex Verge

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

Diversification Opportunities for Exmo Ethereum and Bitfinex Verge

Exmo Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Ethereum USD and Bitfinex Verge USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Verge USD and Exmo 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 Exmo Ethereum USD are associated (or correlated) with Bitfinex Verge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Verge USD has no effect on the direction of Exmo Ethereum i.e. Exmo Ethereum and Bitfinex Verge go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
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