Correlation Analysis Between Gatecoin Ethereum and Kraken Ethereum

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

Gatecoin Ethereum USD  vs.  Kraken Ethereum USD

Gatecoin

Ethereum on Gatecoin in USD
 519.98 
19.98  4.00%
Market Cap: 15 M
  

Kraken

Ethereum on Kraken in USD
 498.14 
3.74  0.75%
Market Cap: 4.7 B
 21.84 
4.20% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Ethereum USD is expected to generate 2.03 times more return on investment than Kraken Ethereum. However, Gatecoin Ethereum is 2.03 times more volatile than Kraken Ethereum USD. It trades about 0.07 of its potential returns per unit of risk. Kraken Ethereum USD is currently generating about -0.03 per unit of risk. If you would invest  50,000  in Gatecoin Ethereum USD on June 18, 2018 and sell it today you would earn a total of  1,998  from holding Gatecoin Ethereum USD or generate 4.0% return on investment over 30 days.

Pair Corralation between Gatecoin Ethereum and Kraken Ethereum

-0.14
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy70.97%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Gatecoin Ethereum USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Kraken Ethereum USD  
0 

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.