This module allows you to analyze existing cross correlation between Coinroom Bitcoin USD and Gatecoin Bitcoin USD. You can compare the effects of market volatilities on Coinroom Bitcoin and Gatecoin Bitcoin 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 Coinroom Bitcoin with a short position of Gatecoin Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinroom Bitcoin and Gatecoin Bitcoin.
Assuming 30 trading days horizon, Coinroom Bitcoin is expected to generate 1.04 times less return on investment than Gatecoin Bitcoin. In addition to that, Coinroom Bitcoin is 1.05 times more volatile than Gatecoin Bitcoin USD. It trades about 0.02 of its total potential returns per unit of risk. Gatecoin Bitcoin USD is currently generating about 0.02 per unit of volatility. If you would invest 971,000 in Gatecoin Bitcoin USD on March 26, 2018 and sell it today you would lose (8,000) from holding Gatecoin Bitcoin USD or give up 0.82% of portfolio value over 30 days.
Pair Corralation between Coinroom Bitcoin and Gatecoin Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Coinroom Bitcoin USD and Gatecoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gatecoin Bitcoin USD and Coinroom Bitcoin 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 Coinroom Bitcoin USD are associated (or correlated) with Gatecoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gatecoin Bitcoin USD has no effect on the direction of Coinroom Bitcoin i.e. Coinroom Bitcoin and Gatecoin Bitcoin go up and down completely randomly.
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