Pair Correlation Between Gatecoin Ethereum and Exmo Ethereum

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

Gatecoin

Ethereum on Gatecoin in USD
 530.5 
30.52  6.1%
Market Cap: 4.1 M
 21.5 

Exmo

Ethereum on Exmo in USD
 509 
10  2%
Market Cap: 26 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Ethereum is expected to generate 1.03 times less return on investment than Exmo Ethereum. In addition to that, Gatecoin Ethereum is 1.04 times more volatile than Exmo Ethereum USD. It trades about 0.32 of its total potential returns per unit of risk. Exmo Ethereum USD is currently generating about 0.34 per unit of volatility. If you would invest  31,519  in Exmo Ethereum USD on November 12, 2017 and sell it today you would earn a total of  19,381  from holding Exmo Ethereum USD or generate 61.49% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Ethereum and Exmo Ethereum
0.77

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Gatecoin Ethereum USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

Exmo Ethereum USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Ethereum USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.