Correlation Analysis Between Gemini Ethereum and BTCAlpha Ethereum

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

Gemini Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Gemini Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, Gemini Ethereum sustained solid returns over the last few months and may actually be approaching a breakup point.
BTCAlpha Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BTCAlpha Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly fragile fundamental indicators, BTCAlpha Ethereum layed out solid returns over the last few months and may actually be approaching a breakup point.

Gemini Ethereum and BTCAlpha Ethereum Volatility Contrast

Gemini Ethereum USD  vs.  BTCAlpha Ethereum USD

Gemini

Ethereum on Gemini in USD

 219.94 
14.34  6.97%
Market Cap: 602.1 K
  

BTCAlpha

Ethereum on BTCAlpha in USD

 219.53 
13.75  6.68%
Market Cap: 53.7 M
 0.41 
0.19% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum USD is expected to generate 3.83 times more return on investment than BTCAlpha Ethereum. However, Gemini Ethereum is 3.83 times more volatile than BTCAlpha Ethereum USD. It trades about 0.71 of its potential returns per unit of risk. BTCAlpha Ethereum USD is currently generating about 0.71 per unit of risk. If you would invest  20,560  in Gemini Ethereum USD on August 20, 2019 and sell it today you would earn a total of  1,226  from holding Gemini Ethereum USD or generate 5.96% return on investment over 30 days.

Pair Corralation between Gemini Ethereum and BTCAlpha Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Gemini Ethereum and BTCAlpha Ethereum

Gemini Ethereum USD diversification synergy

Pay attention

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