Correlation Analysis Between Gemini Ethereum and Coinroom Ethereum

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

Gemini Ethereum USD  vs.  Coinroom Ethereum USD

Gemini

Ethereum on Gemini in USD
 529.09 
12.26  2.26%
Market Cap: 14.2 B
  

Coinroom

Ethereum on Coinroom in USD
 504.30 
39.31  7.23%
Market Cap: 120.9 M
 24.79 
4.69% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum USD is expected to generate 0.89 times more return on investment than Coinroom Ethereum. However, Gemini Ethereum USD is 1.12 times less risky than Coinroom Ethereum. It trades about -0.04 of its potential returns per unit of risk. Coinroom Ethereum USD is currently generating about -0.06 per unit of risk. If you would invest  58,985  in Gemini Ethereum USD on May 22, 2018 and sell it today you would lose (4,850)  from holding Gemini Ethereum USD or give up 8.22% of portfolio value over 30 days.

Pair Corralation between Gemini Ethereum and Coinroom Ethereum

0.93
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 Coinroom Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom 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 Coinroom Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom Ethereum USD has no effect on the direction of Gemini Ethereum i.e. Gemini Ethereum and Coinroom Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Coinroom Ethereum USD  
0 

Risk-Adjusted Performance

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

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