This module allows you to analyze existing cross correlation between BTCAlpha Ethereum USD and Gemini Ethereum USD. You can compare the effects of market volatilities on BTCAlpha 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 BTCAlpha Ethereum with a short position of Gemini Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of BTCAlpha Ethereum and Gemini Ethereum.
|Horizon||30 Days Login to change|
|BTCAlpha Ethereum USD|
Over the last 30 days BTCAlpha 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 fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
|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.
BTCAlpha Ethereum and Gemini Ethereum Volatility Contrast
Predicted Return Density
BTCAlpha Ethereum USD vs. Gemini Ethereum USD
Assuming 30 trading days horizon, BTCAlpha Ethereum USD is expected to generate 1.08 times more return on investment than Gemini Ethereum. However, BTCAlpha Ethereum is 1.08 times more volatile than Gemini Ethereum USD. It trades about -0.17 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about -0.18 per unit of risk. If you would invest 31,345 in BTCAlpha Ethereum USD on July 22, 2019 and sell it today you would lose (12,749) from holding BTCAlpha Ethereum USD or give up 40.67% of portfolio value over 30 days.
Pair Corralation between BTCAlpha Ethereum and Gemini Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for BTCAlpha Ethereum and Gemini Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding BTCAlpha 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 BTCAlpha 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 BTCAlpha 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 BTCAlpha Ethereum i.e. BTCAlpha Ethereum and Gemini Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.