Correlation Analysis Between Exmo Monero and Bitfinex Ethereum

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

Exmo Monero USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Exmo Monero is not utilizing all of its potentials. The current stock price chaos, may contribute to medium term losses for the stakeholders.
Bitfinex Ethereum  
00

Risk-Adjusted Performance

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

Exmo Monero and Bitfinex Ethereum Volatility Contrast

Exmo Monero USD  vs.  Bitfinex Ethereum Classic USD

Exmo

Monero on Exmo in USD

 75.68 
0.00  0.00%
Market Cap: 5.1 M
  

Bitfinex

Ethereum Classic on Bitfinex in USD

 6.29 
(0.003)  0.0477%
Market Cap: 6.4 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  629.30  in Bitfinex Ethereum Classic USD on August 16, 2019 and sell it today you would earn a total of  0.00  from holding Bitfinex Ethereum Classic USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Exmo Monero and Bitfinex Ethereum

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

Diversification Opportunities for Exmo Monero and Bitfinex Ethereum

Exmo Monero USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Monero USD and Bitfinex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Ethereum and Exmo Monero 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 Monero USD are associated (or correlated) with Bitfinex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Ethereum has no effect on the direction of Exmo Monero i.e. Exmo Monero and Bitfinex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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