Correlation Analysis Between Coinroom Ethereum and Gatecoin Ethereum

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

Coinroom Ethereum USD  vs.  Gatecoin Ethereum USD

Coinroom

Ethereum on Coinroom in USD

 201.98 
0.66  0.33%
Market Cap: 2.2 M
  

Gatecoin

Ethereum on Gatecoin in USD

 205.40 
0.05  0.0243%
Market Cap: 6.4 K
(3.42)
1.69% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Ethereum USD is expected to generate 1.33 times more return on investment than Gatecoin Ethereum. However, Coinroom Ethereum is 1.33 times more volatile than Gatecoin Ethereum USD. It trades about 0.02 of its potential returns per unit of risk. Gatecoin Ethereum USD is currently generating about 0.0 per unit of risk. If you would invest  20,346  in Coinroom Ethereum USD on September 18, 2018 and sell it today you would lose (214.00)  from holding Coinroom Ethereum USD or give up 1.05% of portfolio value over 30 days.

Pair Corralation between Coinroom Ethereum and Gatecoin Ethereum

0.6
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy70.97%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinroom 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 Coinroom 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 Coinroom 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 Coinroom Ethereum i.e. Coinroom Ethereum and Gatecoin Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinroom Ethereum USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Gatecoin Ethereum USD  
0 

Risk-Adjusted Performance

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

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