Correlation Analysis Between Gatecoin Ethereum and Bitfinex Ethereum

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

Gatecoin Ethereum USD  vs.  Bitfinex Ethereum USD


Ethereum on Gatecoin in USD

0.05  0.0243%
Market Cap: 6.4 K


Ethereum on Bitfinex in USD

2.18  1.02%
Market Cap: 906.7 M
2.66% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Ethereum USD is expected to under-perform the Bitfinex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Gatecoin Ethereum USD is 1.36 times less risky than Bitfinex Ethereum. The crypto trades about 0.0 of its potential returns per unit of risk. The Bitfinex Ethereum USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  21,143  in Bitfinex Ethereum USD on September 18, 2018 and sell it today you would lose (57.00)  from holding Bitfinex Ethereum USD or give up 0.27% of portfolio value over 30 days.

Pair Corralation between Gatecoin Ethereum and Bitfinex Ethereum

Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gatecoin Ethereum USD and Bitfinex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex 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 Bitfinex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Ethereum USD has no effect on the direction of Gatecoin Ethereum i.e. Gatecoin Ethereum and Bitfinex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
Gatecoin Ethereum USD  

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.
Bitfinex Ethereum USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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