Pair Correlation Between Gatecoin Ethereum and Coinroom Ethereum

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

Gatecoin

Ethereum on Gatecoin in USD
 744 
(16)  2.11%
Market Cap: 20.4 M
 44.95 

Coinroom

Ethereum on Coinroom in USD
 699.05 
(0.01)  0.0014%
Market Cap: 24.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Ethereum is expected to generate 1.02 times less return on investment than Coinroom Ethereum. In addition to that, Gatecoin Ethereum is 1.15 times more volatile than Coinroom Ethereum USD. It trades about 0.34 of its total potential returns per unit of risk. Coinroom Ethereum USD is currently generating about 0.4 per unit of volatility. If you would invest  32,164  in Coinroom Ethereum USD on November 17, 2017 and sell it today you would earn a total of  37,742  from holding Coinroom Ethereum USD or generate 117.34% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Ethereum and Coinroom Ethereum
0.9

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

Comparative Volatility

 Predicted Return Density 
      Returns 

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.

Coinroom Ethereum USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Ethereum USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.