Pair Correlation Between Coinbase Ethereum and Gatecoin Ethereum

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

Coinbase

Ethereum on Coinbase in USD
 1,050 
29  2.84%
Market Cap: 319.5 B
(165.01)

Gatecoin

Ethereum on Gatecoin in USD
 1,215 
(4)  0.33%
Market Cap: 12.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Ethereum is expected to generate 1.44 times less return on investment than Gatecoin Ethereum. But when comparing it to its historical volatility, Coinbase Ethereum USD is 1.08 times less risky than Gatecoin Ethereum. It trades about 0.14 of its potential returns per unit of risk. Gatecoin Ethereum USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  82,000  in Gatecoin Ethereum USD on December 20, 2017 and sell it today you would earn a total of  39,500  from holding Gatecoin Ethereum USD or generate 48.17% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinbase Ethereum and Gatecoin Ethereum
0.94

Parameters

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 Coinbase 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 Coinbase 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 Coinbase 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 Coinbase Ethereum i.e. Coinbase Ethereum and Gatecoin Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Coinbase Ethereum USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Coinbase Ethereum USD

Pair trading matchups for Coinbase Ethereum

Gatecoin Ethereum USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Gatecoin Ethereum USD

Pair trading matchups for Gatecoin Ethereum