Correlation Analysis Between Gemini Bitcoin and Coinsbit Ethereum

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

Gemini Bitcoin USD  
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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.
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 nearly fragile fundamental indicators, Coinsbit Ethereum layed out solid returns over the last few months and may actually be approaching a breakup point.

Gemini Bitcoin and Coinsbit Ethereum Volatility Contrast

Gemini Bitcoin USD  vs.  Coinsbit Ethereum USD

Gemini

Bitcoin on Gemini in USD

 10,272 
381.06  3.85%
Market Cap: 342.7 B
  

Coinsbit

Ethereum on Coinsbit in USD

 219.97 
14.54  7.08%
Market Cap: 282.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin is expected to generate 3.95 times less return on investment than Coinsbit Ethereum. But when comparing it to its historical volatility, Gemini Bitcoin USD is 3.95 times less risky than Coinsbit Ethereum. It trades about 0.71 of its potential returns per unit of risk. Coinsbit Ethereum USD is currently generating about 0.71 of returns per unit of risk over similar time horizon. If you would invest  20,543  in Coinsbit Ethereum USD on August 20, 2019 and sell it today you would earn a total of  1,291  from holding Coinsbit Ethereum USD or generate 6.28% return on investment over 30 days.

Pair Corralation between Gemini Bitcoin and Coinsbit Ethereum

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

Diversification Opportunities for Gemini Bitcoin and Coinsbit 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 Coinsbit Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinsbit 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 Coinsbit Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinsbit Ethereum USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and Coinsbit Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .


 
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