Correlation Analysis Between Gemini Ethereum and Bitfinex Ethereum

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

Gemini Ethereum USD  vs.  Bitfinex Ethereum USD

Gemini

Ethereum on Gemini in USD

 86.03 
(1.79)  2.04%
Market Cap: 698.8 M
  

Bitfinex

Ethereum on Bitfinex in USD

 91.34 
0.62  0.68%
Market Cap: 6.4 B
(5.31)
6.17% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum USD is expected to generate 1.17 times more return on investment than Bitfinex Ethereum. However, Gemini Ethereum is 1.17 times more volatile than Bitfinex Ethereum USD. It trades about -0.3 of its potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about -0.35 per unit of risk. If you would invest  20,265  in Gemini Ethereum USD on November 13, 2018 and sell it today you would lose (11,483)  from holding Gemini Ethereum USD or give up 56.66% of portfolio value over 30 days.

Pair Corralation between Gemini Ethereum and Bitfinex Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.73%
ValuesDaily Returns

Diversification

Gemini Ethereum USD diversification synergy

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Gemini Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Gemini Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex Ethereum USD  
0

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1039.55

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
Search macroaxis.com