Correlation Analysis Between OKCoin Ethereum and itBit Ethereum

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

Comparative Performance

OKCoin Ethereum USD  
00

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

OKCoin Ethereum and itBit Ethereum Volatility Contrast

OKCoin Ethereum USD  vs.  itBit Ethereum USD

OKCoin

Ethereum on OKCoin in USD

 197.96 
0.00  0.00%
Market Cap: 2.1 M
  

itBit

Ethereum on itBit in USD

 198.85 
0.00  0.00%
Market Cap: 138.1 M
(0.89)
0.45% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

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

Pair Corralation between OKCoin Ethereum and itBit Ethereum

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

Diversification Opportunities for OKCoin Ethereum and itBit Ethereum

OKCoin Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding OKCoin Ethereum USD and itBit Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit Ethereum USD and OKCoin 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 OKCoin Ethereum USD are associated (or correlated) with itBit Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Ethereum USD has no effect on the direction of OKCoin Ethereum i.e. OKCoin Ethereum and itBit Ethereum go up and down completely randomly.
See also your portfolio center. Please also try ETF Directory module to find actively-traded exchange traded funds (etf) from around the world.


 
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