Correlation Analysis Between Bitfinex Ethereum and Gatecoin Ethereum

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.
 Time Horizon     30 Days    Login   to change

Bitfinex Ethereum USD  vs.  Gatecoin Ethereum USD


Ethereum on Bitfinex in USD
26.23  5.24%
Market Cap: 42 B


Ethereum on Gatecoin in USD
27.21  5.23%
Market Cap: 15 M
3.90% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Ethereum USD is expected to under-perform the Gatecoin Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Ethereum USD is 2.08 times less risky than Gatecoin Ethereum. The crypto trades about -0.07 of its potential returns per unit of risk. The Gatecoin Ethereum USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  50,000  in Gatecoin Ethereum USD on June 18, 2018 and sell it today you would earn a total of  1,998  from holding Gatecoin Ethereum USD or generate 4.0% return on investment over 30 days.

Pair Corralation between Bitfinex Ethereum and Gatecoin Ethereum

Time Period1 Month [change]
ValuesDaily Returns


Good 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.

Comparative Volatility

 Predicted Return Density 
Bitfinex Ethereum USD  

Risk-Adjusted Performance

Over the last 30 days Bitfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Gatecoin Ethereum USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.