Correlation Analysis Between Gemini ZCash and Kraken ZCash

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

Comparative Performance

Gemini ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days Gemini ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Kraken ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days Kraken ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Gemini ZCash and Kraken ZCash Volatility Contrast

 Predicted Return Density 
      Returns 

Gemini ZCash USD  vs.  Kraken ZCash USD

Gemini

ZCash on Gemini in USD

 50.14 
(0.55)  1.08%
Market Cap: 7.5 M
  

Kraken

ZCash on Kraken in USD

 50.12 
(0.38)  0.75%
Market Cap: 6 M
 0.02 
0.039888% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini ZCash USD is expected to generate 1.35 times more return on investment than Kraken ZCash. However, Gemini ZCash is 1.35 times more volatile than Kraken ZCash USD. It trades about -0.28 of its potential returns per unit of risk. Kraken ZCash USD is currently generating about -0.39 per unit of risk. If you would invest  11,059  in Gemini ZCash USD on July 26, 2019 and sell it today you would lose (5,990)  from holding Gemini ZCash USD or give up 54.16% of portfolio value over 30 days.

Pair Corralation between Gemini ZCash and Kraken ZCash

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Gemini ZCash and Kraken ZCash

Gemini ZCash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Gemini ZCash USD and Kraken ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken ZCash USD and Gemini ZCash 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 ZCash USD are associated (or correlated) with Kraken ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken ZCash USD has no effect on the direction of Gemini ZCash i.e. Gemini ZCash and Kraken ZCash go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
Search macroaxis.com