Pair Correlation Between Gemini Ethereum and CCEX Ethereum

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

Gemini

Ethereum on Gemini in USD
 722 
9  1.26%
Market Cap: 10 B
 25 

CCEX

Ethereum on CCEX in USD
 697 
(27)  3.73%
Market Cap: 3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum is expected to generate 1.04 times less return on investment than CCEX Ethereum. But when comparing it to its historical volatility, Gemini Ethereum USD is 1.01 times less risky than CCEX Ethereum. It trades about 0.36 of its potential returns per unit of risk. CCEX Ethereum USD is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest  33,169  in CCEX Ethereum USD on November 17, 2017 and sell it today you would earn a total of  36,531  from holding CCEX Ethereum USD or generate 110.14% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gemini Ethereum and CCEX Ethereum
0.96

Parameters

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

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Gemini Ethereum USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Ethereum USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

CCEX Ethereum USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Ethereum USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.