Correlation Analysis Between Coinsbit Ethereum and Gemini Ethereum

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

Coinsbit Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit 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  
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.

Coinsbit Ethereum and Gemini Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Ethereum USD  vs.  Gemini Ethereum USD

Coinsbit

Ethereum on Coinsbit in USD

 193.77 
8.32  4.49%
Market Cap: 2.5 B
  

Gemini

Ethereum on Gemini in USD

 192.46 
7.58  4.10%
Market Cap: 66.3 M
 1.31 
0.68% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Ethereum USD is expected to generate 1.36 times more return on investment than Gemini Ethereum. However, Coinsbit Ethereum is 1.36 times more volatile than Gemini Ethereum USD. It trades about -0.11 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about -0.16 per unit of risk. If you would invest  31,615  in Coinsbit Ethereum USD on July 23, 2019 and sell it today you would lose (12,754)  from holding Coinsbit Ethereum USD or give up 40.34% of portfolio value over 30 days.

Pair Corralation between Coinsbit Ethereum and Gemini Ethereum

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Ethereum and Gemini Ethereum

Coinsbit Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinsbit 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 Coinsbit 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 Coinsbit 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 Coinsbit Ethereum i.e. Coinsbit Ethereum and Gemini Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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