Correlation Analysis Between primexbt Ethereum and Exenium Ethereum

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

primexbt Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days primexbt Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Exenium Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exenium Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in October 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.

primexbt Ethereum and Exenium Ethereum Volatility Contrast

primexbt Ethereum USD  vs.  Exenium Ethereum USD

primexbt

Ethereum on primexbt in USD

 199.62 
4.86  2.50%
Market Cap: 115.3 M
  

Exenium

Ethereum on Exenium in USD

 192.82 
2.66  1.40%
Market Cap: 3.3 M
 6.80 
3.41% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, primexbt Ethereum USD is expected to generate 0.69 times more return on investment than Exenium Ethereum. However, primexbt Ethereum USD is 1.45 times less risky than Exenium Ethereum. It trades about -0.71 of its potential returns per unit of risk. Exenium Ethereum USD is currently generating about -0.71 per unit of risk. If you would invest  19,476  in primexbt Ethereum USD on August 17, 2019 and sell it today you would lose (240.00)  from holding primexbt Ethereum USD or give up 1.23% of portfolio value over 30 days.

Pair Corralation between primexbt Ethereum and Exenium Ethereum

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

Diversification Opportunities for primexbt Ethereum and Exenium Ethereum

primexbt Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding primexbt Ethereum USD and Exenium Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exenium Ethereum USD and primexbt 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 primexbt Ethereum USD are associated (or correlated) with Exenium Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exenium Ethereum USD has no effect on the direction of primexbt Ethereum i.e. primexbt Ethereum and Exenium Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.


 
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