Correlation Analysis Between Bitfinex NEO and Exmo Ethereum

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

Bitfinex NEO USD  
00

Risk-Adjusted Performance

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

Bitfinex NEO and Exmo Ethereum Volatility Contrast

Bitfinex NEO USD  vs.  Exmo Ethereum USD

Bitfinex

NEO on Bitfinex in USD

 9.15 
0.001  0.0109%
Market Cap: 618.9 K
  

Exmo

Ethereum on Exmo in USD

 190.61 
0.00  0.00%
Market Cap: 126.4 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  18,941  in Exmo Ethereum USD on August 16, 2019 and sell it today you would earn a total of  0.00  from holding Exmo Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex NEO and Exmo Ethereum

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

Diversification Opportunities for Bitfinex NEO and Exmo Ethereum

Bitfinex NEO USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex NEO USD and Exmo Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo Ethereum USD and Bitfinex NEO 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 Bitfinex NEO USD are associated (or correlated) with Exmo Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Ethereum USD has no effect on the direction of Bitfinex NEO i.e. Bitfinex NEO and Exmo Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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