Pair Correlation Between Gatecoin Ethereum and Tidex Ethereum

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

Gatecoin

Ethereum on Gatecoin in USD
 760 
65  9.35%
Market Cap: 20.4 M
 760 

Tidex

Ethereum on Tidex in USD
 0.00 
(650.03)  100%
Market Cap: 71.7 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  34,899  in Gatecoin Ethereum USD on November 17, 2017 and sell it today you would earn a total of  41,101  from holding Gatecoin Ethereum USD or generate 117.77% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Ethereum and Tidex Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.45%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Gatecoin Ethereum USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.