This module allows you to analyze existing cross correlation between Gemini Ethereum USD and bingcoins Ethereum USD. You can compare the effects of market volatilities on Gemini Ethereum and bingcoins 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 Ethereum with a short position of bingcoins Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Gemini Ethereum and bingcoins Ethereum.
|Horizon||30 Days Login to change|
|Gemini Ethereum USD|
Over the last 30 days Gemini Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
|bingcoins Ethereum USD|
Compared to the overall equity markets, risk-adjusted returns on investments in bingcoins Ethereum USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, bingcoins Ethereum layed out solid returns over the last few months and may actually be approaching a breakup point.
Gemini Ethereum and bingcoins Ethereum Volatility Contrast
Predicted Return Density
Gemini Ethereum USD vs. bingcoins Ethereum USD
Assuming 30 trading days horizon, Gemini Ethereum USD is expected to under-perform the bingcoins Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Gemini Ethereum USD is 21.99 times less risky than bingcoins Ethereum. The crypto trades about -0.18 of its potential returns per unit of risk. The bingcoins Ethereum USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 0.00 in bingcoins Ethereum USD on July 22, 2019 and sell it today you would earn a total of 20,096 from holding bingcoins Ethereum USD or generate 9.223372036854776E16% return on investment over 30 days.
Pair Corralation between Gemini Ethereum and bingcoins Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for Gemini Ethereum and bingcoins Ethereum
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Gemini Ethereum USD and bingcoins Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on bingcoins Ethereum USD and Gemini 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 Gemini Ethereum USD are associated (or correlated) with bingcoins Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bingcoins Ethereum USD has no effect on the direction of Gemini Ethereum i.e. Gemini Ethereum and bingcoins Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..