Correlation Analysis Between Exmo Ethereum and Bitfinex NEO

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

Exmo Ethereum USD  vs.  Bitfinex NEO USD

Exmo

Ethereum on Exmo in USD

 190.61 
0.00  0.00%
Market Cap: 126.4 M
  

Bitfinex

NEO on Bitfinex in USD

 9.15 
0.001  0.0109%
Market Cap: 618.9 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  910.60  in Bitfinex NEO USD on August 16, 2019 and sell it today you would earn a total of  0.00  from holding Bitfinex NEO USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Exmo Ethereum and Bitfinex NEO

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

Diversification Opportunities for Exmo Ethereum and Bitfinex NEO

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 NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex NEO 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 NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex NEO USD has no effect on the direction of Exmo Ethereum i.e. Exmo Ethereum and Bitfinex NEO go up and down completely randomly.
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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