Pair Correlation Between Coinroom Ethereum and Gemini Ethereum

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

Coinroom

Ethereum on Coinroom in USD
 462.52 
17.12  3.84%
Market Cap: 24.1 M
(48.02)

Gemini

Ethereum on Gemini in USD
 510.54 
57.57  12.71%
Market Cap: 168.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Ethereum USD is expected to generate 1.26 times more return on investment than Gemini Ethereum. However, Coinroom Ethereum is 1.26 times more volatile than Gemini Ethereum USD. It trades about 0.26 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about 0.32 per unit of risk. If you would invest  31,156  in Coinroom Ethereum USD on November 11, 2017 and sell it today you would earn a total of  15,165  from holding Coinroom Ethereum USD or generate 48.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Coinroom Ethereum and Gemini Ethereum
0.68

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinroom 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 Coinroom 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 Coinroom 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 Coinroom Ethereum i.e. Coinroom Ethereum and Gemini Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Coinroom Ethereum USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Ethereum USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Gemini Ethereum USD

  
21 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Ethereum USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.