Pair Correlation Between Exmo Ethereum and Gemini Ethereum

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

Exmo

Ethereum on Exmo in USD
 869.67 
9.35  1.09%
Market Cap: 1.3 B
 36.58 

Gemini

Ethereum on Gemini in USD
 833.09 
0.47  0.0564%
Market Cap: 12.9 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Ethereum USD is expected to under-perform the Gemini Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Exmo Ethereum USD is 1.49 times less risky than Gemini Ethereum. The crypto trades about -0.13 of its potential returns per unit of risk. The Gemini Ethereum USD is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest  105,493  in Gemini Ethereum USD on January 25, 2018 and sell it today you would lose (21,957)  from holding Gemini Ethereum USD or give up 20.81% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Exmo Ethereum and Gemini Ethereum
0.88

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Exmo Ethereum USD

  
0 

Risk-Adjusted Performance

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

Exmo Ethereum USD

Pair trading matchups for Exmo Ethereum

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.

Gemini Ethereum USD

Pair trading matchups for Gemini Ethereum