This module allows you to analyze existing cross correlation between Bitfinex Ethereum USD and Gatecoin Ethereum USD. You can compare the effects of market volatilities on Bitfinex Ethereum and Gatecoin 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 Ethereum with a short position of Gatecoin Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Bitfinex Ethereum
and Gatecoin Ethereum
Bitfinex Ethereum USD vs Gatecoin Ethereum USD
Assuming 30 trading days horizon, Bitfinex Ethereum USD is expected to generate 0.86 times more return on investment than Gatecoin Ethereum. However, Bitfinex Ethereum USD is 1.17 times less risky than Gatecoin Ethereum. It trades about 0.39 of its potential returns per unit of risk. Gatecoin Ethereum USD is currently generating about 0.3 per unit of risk. If you would invest 33,076 in Bitfinex Ethereum USD on November 15, 2017 and sell it today you would earn a total of 35,425 from holding Bitfinex Ethereum USD or generate 107.1% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Ethereum USD and Gatecoin Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gatecoin Ethereum USD and Bitfinex 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 Bitfinex Ethereum USD are associated (or correlated) with Gatecoin Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gatecoin Ethereum USD has no effect on the direction of Bitfinex Ethereum i.e. Bitfinex Ethereum and Gatecoin Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.