Correlation Analysis Between Bitfinex ZCash and Gemini ZCash

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

Bitfinex ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
Gemini ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days Gemini ZCash 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.

Bitfinex ZCash and Gemini ZCash Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex ZCash USD  vs.  Gemini ZCash USD

Bitfinex

ZCash on Bitfinex in USD

 50.18 
(0.88)  1.72%
Market Cap: 13.7 M
  

Gemini

ZCash on Gemini in USD

 50.14 
(0.55)  1.08%
Market Cap: 7.5 M
 0.04 
0.08% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex ZCash USD is expected to generate 0.9 times more return on investment than Gemini ZCash. However, Bitfinex ZCash USD is 1.11 times less risky than Gemini ZCash. It trades about -0.3 of its potential returns per unit of risk. Gemini ZCash USD is currently generating about -0.28 per unit of risk. If you would invest  10,584  in Bitfinex ZCash USD on July 26, 2019 and sell it today you would lose (5,533)  from holding Bitfinex ZCash USD or give up 52.28% of portfolio value over 30 days.

Pair Corralation between Bitfinex ZCash and Gemini ZCash

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex ZCash and Gemini ZCash

Bitfinex ZCash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex ZCash USD and Gemini ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gemini ZCash USD and Bitfinex ZCash 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 Bitfinex ZCash USD are associated (or correlated) with Gemini ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gemini ZCash USD has no effect on the direction of Bitfinex ZCash i.e. Bitfinex ZCash and Gemini ZCash go up and down completely randomly.
See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.


 
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