Correlation Analysis Between HitBTC Ethereum and Gemini Ethereum

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

Comparative Performance

HitBTC Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days HitBTC Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Gemini Ethereum USD  
0

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.

HitBTC Ethereum and Gemini Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

HitBTC Ethereum USD  vs.  Gemini Ethereum USD

HitBTC

Ethereum on HitBTC in USD

 128.08 
0.00  0.00%
Market Cap: 9.4 K
  

Gemini

Ethereum on Gemini in USD

 121.66 
1.58  1.32%
Market Cap: 30.2 M
 6.42 
5.01% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  13,108  in Gemini Ethereum USD on December 17, 2018 and sell it today you would lose (942.00)  from holding Gemini Ethereum USD or give up 7.19% of portfolio value over 30 days.

Pair Corralation between HitBTC Ethereum and Gemini Ethereum

-0.32
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy2.38%
ValuesDaily Returns

Diversification Opportunities for HitBTC Ethereum and Gemini Ethereum

HitBTC Ethereum USD diversification synergy

Very good diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try ETF Directory module to find actively-traded exchange traded funds (etf) from around the world.


 
Search macroaxis.com