Pair Correlation Between CCEX Ethereum and Gatecoin Ethereum

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

CCEX

Ethereum on CCEX in USD
 697 
(27)  3.73%
Market Cap: 3 M
(52)

Gatecoin

Ethereum on Gatecoin in USD
 749 
(11)  1.45%
Market Cap: 20.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Ethereum is expected to generate 1.01 times less return on investment than Gatecoin Ethereum. But when comparing it to its historical volatility, CCEX Ethereum USD is 1.1 times less risky than Gatecoin Ethereum. It trades about 0.37 of its potential returns per unit of risk. Gatecoin Ethereum USD is currently generating about 0.34 of returns per unit of risk over similar time horizon. If you would invest  34,899  in Gatecoin Ethereum USD on November 17, 2017 and sell it today you would earn a total of  38,101  from holding Gatecoin Ethereum USD or generate 109.18% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX Ethereum and Gatecoin Ethereum
0.92

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding CCEX Ethereum USD and Gatecoin Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gatecoin Ethereum USD and CCEX 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 CCEX Ethereum USD are associated (or correlated) with Gatecoin Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gatecoin Ethereum USD has no effect on the direction of CCEX Ethereum i.e. CCEX Ethereum and Gatecoin Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX Ethereum USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Ethereum USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.

Gatecoin Ethereum USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.