This module allows you to analyze existing cross correlation between Bitfinex Ethereum USD and Gemini Ethereum USD. You can compare the effects of market volatilities on Bitfinex Ethereum and Gemini 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 Gemini Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Ethereum and Gemini Ethereum.
|Horizon||30 Days Login to change|
|Bitfinex Ethereum USD|
Over the last 30 days Bitfinex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
|Gemini Ethereum USD|
Over the last 30 days Gemini 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 September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Bitfinex Ethereum and Gemini Ethereum Volatility Contrast
Predicted Return Density
Bitfinex Ethereum USD vs. Gemini Ethereum USD
Assuming 30 trading days horizon, Bitfinex Ethereum USD is expected to under-perform the Gemini Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Ethereum USD is 1.04 times less risky than Gemini Ethereum. The crypto trades about -0.14 of its potential returns per unit of risk. The Gemini Ethereum USD is currently generating about -0.12 of returns per unit of risk over similar time horizon. If you would invest 29,505 in Gemini Ethereum USD on July 21, 2019 and sell it today you would lose (9,677) from holding Gemini Ethereum USD or give up 32.8% of portfolio value over 30 days.
Pair Corralation between Bitfinex Ethereum and Gemini Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for Bitfinex Ethereum and Gemini Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Ethereum USD and Gemini Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gemini 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 Gemini Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gemini Ethereum USD has no effect on the direction of Bitfinex Ethereum i.e. Bitfinex Ethereum and Gemini Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.