Correlation Analysis Between Gemini Bitcoin and BTCAlpha Ethereum

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

Comparative Performance

Gemini Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Gemini Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, Gemini Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
BTCAlpha Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly fragile fundamental indicators, BTCAlpha Ethereum layed out solid returns over the last few months and may actually be approaching a breakup point.

Gemini Bitcoin and BTCAlpha Ethereum Volatility Contrast

Gemini Bitcoin USD  vs.  BTCAlpha Ethereum USD

Gemini

Bitcoin on Gemini in USD

 10,240 
348.93  3.53%
Market Cap: 342.7 B
  

BTCAlpha

Ethereum on BTCAlpha in USD

 221.88 
16.10  7.82%
Market Cap: 53.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 1.02 times more return on investment than BTCAlpha Ethereum. However, Gemini Bitcoin is 1.02 times more volatile than BTCAlpha Ethereum USD. It trades about 0.71 of its potential returns per unit of risk. BTCAlpha Ethereum USD is currently generating about 0.71 per unit of risk. If you would invest  989,104  in Gemini Bitcoin USD on August 20, 2019 and sell it today you would earn a total of  15,733  from holding Gemini Bitcoin USD or generate 1.59% return on investment over 30 days.

Pair Corralation between Gemini Bitcoin and BTCAlpha Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Gemini Bitcoin and BTCAlpha Ethereum

Gemini Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Gemini Bitcoin USD and BTCAlpha Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BTCAlpha Ethereum USD and Gemini Bitcoin 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 Gemini Bitcoin USD are associated (or correlated) with BTCAlpha Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTCAlpha Ethereum USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and BTCAlpha Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.


 
Search macroaxis.com