Correlation Analysis Between Kraken Ethereum and Gatecoin Ethereum

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

Kraken Ethereum USD  vs.  Gatecoin Ethereum USD

Kraken

Ethereum on Kraken in USD
 461.99 
2.56  0.55%
Market Cap: 7.5 B
  

Gatecoin

Ethereum on Gatecoin in USD
 462.79 
13.20  2.77%
Market Cap: 15 M
(0.80)
0.17% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Ethereum USD is expected to generate 0.46 times more return on investment than Gatecoin Ethereum. However, Kraken Ethereum USD is 2.19 times less risky than Gatecoin Ethereum. It trades about 0.08 of its potential returns per unit of risk. Gatecoin Ethereum USD is currently generating about 0.0 per unit of risk. If you would invest  43,622  in Kraken Ethereum USD on June 23, 2018 and sell it today you would earn a total of  2,577  from holding Kraken Ethereum USD or generate 5.91% return on investment over 30 days.

Pair Corralation between Kraken Ethereum and Gatecoin Ethereum

0.2
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy70.97%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Ethereum USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Ethereum USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Gatecoin Ethereum USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
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ExchangeNASDAQ
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See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
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