Correlation Analysis Between BitTrex Ethereum and Gatecoin Ethereum

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

BitTrex Ethereum USD  vs.  Gatecoin Ethereum USD

BitTrex

Ethereum on BitTrex in USD

 199.49 
4.46  2.19%
Market Cap: 339 K
  

Gatecoin

Ethereum on Gatecoin in USD

 205.40 
0.05  0.0243%
Market Cap: 6.4 K
(5.91)
2.96% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to under-perform the Gatecoin Ethereum. In addition to that, BitTrex Ethereum is 1.08 times more volatile than Gatecoin Ethereum USD. It trades about -0.02 of its total potential returns per unit of risk. Gatecoin Ethereum USD is currently generating about 0.0 per unit of volatility. If you would invest  21,031  in Gatecoin Ethereum USD on September 18, 2018 and sell it today you would lose (491.00)  from holding Gatecoin Ethereum USD or give up 2.33% of portfolio value over 30 days.

Pair Corralation between BitTrex Ethereum and Gatecoin Ethereum

0.98
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex 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 BitTrex 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 BitTrex 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 BitTrex Ethereum i.e. BitTrex Ethereum and Gatecoin Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Ethereum USD  
0 

Risk-Adjusted Performance

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

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