Correlation Analysis Between Bitstamp Ethereum and Gemini Ethereum

This module allows you to analyze existing cross correlation between Bitstamp Ethereum USD and Gemini Ethereum USD. You can compare the effects of market volatilities on Bitstamp 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 Bitstamp Ethereum with a short position of Gemini Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitstamp Ethereum and Gemini Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Bitstamp Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in September 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.
Gemini Ethereum USD  
00

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. 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.

Bitstamp Ethereum and Gemini Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Bitstamp Ethereum USD  vs.  Gemini Ethereum USD

Bitstamp

Ethereum on Bitstamp in USD

 197.01 
11.18  6.02%
Market Cap: 45.6 M
  

Gemini

Ethereum on Gemini in USD

 196.93 
11.07  5.96%
Market Cap: 66.3 M
 0.08 
0.040607% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to generate 1.0 times more return on investment than Gemini Ethereum. However, Bitstamp Ethereum USD is 1.0 times less risky than Gemini Ethereum. It trades about -0.09 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about -0.09 per unit of risk. If you would invest  27,118  in Bitstamp Ethereum USD on July 19, 2019 and sell it today you would lose (7,411)  from holding Bitstamp Ethereum USD or give up 27.33% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and Gemini Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitstamp Ethereum and Gemini Ethereum

Bitstamp Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp 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 Bitstamp 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 Bitstamp 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 Bitstamp Ethereum i.e. Bitstamp Ethereum and Gemini Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.


 
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