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
Bitfinex Ethereum USD vs Gemini Ethereum USD
Assuming 30 trading days horizon, Bitfinex Ethereum is expected to generate 1.05 times less return on investment than Gemini Ethereum. But when comparing it to its historical volatility, Bitfinex Ethereum USD is 1.04 times less risky than Gemini Ethereum. It trades about 0.38 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about 0.38 of returns per unit of risk over similar time horizon. If you would invest 32,902 in Gemini Ethereum USD on November 16, 2017 and sell it today you would earn a total of 37,973 from holding Gemini Ethereum USD or generate 115.41% 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 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.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Ethereum USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.