Correlation Analysis Between Bitfinex Ethereum and Gemini Ethereum

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
Symbolsvs

Bitfinex Ethereum USD  vs.  Gemini Ethereum USD

Bitfinex

Ethereum on Bitfinex in USD

 92.16 
1.44  1.59%
Market Cap: 6.4 B
  

Gemini

Ethereum on Gemini in USD

 89.03 
2.56  2.96%
Market Cap: 698.8 M
 3.13 
3.40% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Ethereum USD is expected to generate 0.86 times more return on investment than Gemini Ethereum. However, Bitfinex Ethereum USD is 1.16 times less risky than Gemini Ethereum. It trades about -0.35 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about -0.3 per unit of risk. If you would invest  21,284  in Bitfinex Ethereum USD on November 13, 2018 and sell it today you would lose (12,150)  from holding Bitfinex Ethereum USD or give up 57.09% of portfolio value over 30 days.

Pair Corralation between Bitfinex Ethereum and Gemini Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.73%
ValuesDaily Returns

Diversification

Bitfinex Ethereum USD diversification synergy

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.

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Ethereum USD  
0

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.
Gemini Ethereum USD  
0

Risk-Adjusted Performance

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

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