Correlation Analysis Between P2PB2B Ethereum and Gemini Ethereum

This module allows you to analyze existing cross correlation between P2PB2B Ethereum USD and Gemini Ethereum USD. You can compare the effects of market volatilities on P2PB2B 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 P2PB2B Ethereum with a short position of Gemini Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of P2PB2B Ethereum and Gemini Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

P2PB2B Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, P2PB2B Ethereum sustained solid returns over the last few months and may actually be approaching a breakup point.
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 fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

P2PB2B Ethereum and Gemini Ethereum Volatility Contrast

P2PB2B Ethereum USD  vs.  Gemini Ethereum USD

P2PB2B

Ethereum on P2PB2B in USD

 216.85 
4.56  2.15%
Market Cap: 277.6 M
  

Gemini

Ethereum on Gemini in USD

 216.28 
(2.07)  0.95%
Market Cap: 602.1 K
 0.57 
0.26% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, P2PB2B Ethereum USD is expected to generate 2.27 times more return on investment than Gemini Ethereum. However, P2PB2B Ethereum is 2.27 times more volatile than Gemini Ethereum USD. It trades about 0.71 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about -0.71 per unit of risk. If you would invest  21,229  in P2PB2B Ethereum USD on August 22, 2019 and sell it today you would earn a total of  456.00  from holding P2PB2B Ethereum USD or generate 2.15% return on investment over 30 days.

Pair Corralation between P2PB2B Ethereum and Gemini Ethereum

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

Diversification Opportunities for P2PB2B Ethereum and Gemini Ethereum

P2PB2B Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding P2PB2B 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 P2PB2B 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 P2PB2B 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 P2PB2B Ethereum i.e. P2PB2B Ethereum and Gemini Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.


 
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