This module allows you to analyze existing cross correlation between Gatecoin Ethereum USD and BitBay Ethereum USD. You can compare the effects of market volatilities on Gatecoin Ethereum and BitBay 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 Gatecoin Ethereum with a short position of BitBay Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Gatecoin Ethereum
and BitBay Ethereum
Gatecoin Ethereum USD vs BitBay Ethereum USD
Assuming 30 trading days horizon, Gatecoin Ethereum USD is expected to generate 1.2 times more return on investment than BitBay Ethereum. However, Gatecoin Ethereum is 1.2 times more volatile than BitBay Ethereum USD. It trades about 0.1 of its potential returns per unit of risk. BitBay Ethereum USD is currently generating about 0.12 per unit of risk. If you would invest 81,600 in Gatecoin Ethereum USD on December 18, 2017 and sell it today you would earn a total of 13,402 from holding Gatecoin Ethereum USD or generate 16.42% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Gatecoin Ethereum USD and BitBay Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitBay Ethereum USD and Gatecoin 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 Gatecoin Ethereum USD are associated (or correlated) with BitBay Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitBay Ethereum USD has no effect on the direction of Gatecoin Ethereum i.e. Gatecoin Ethereum and BitBay Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in BitBay Ethereum USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.