Pair Correlation Between Gemini Ethereum and Lykke Ethereum

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

Gemini

Ethereum on Gemini in USD
 682.61 
(29.69)  4.17%
Market Cap: 10 B
 12.6 

Lykke

Ethereum on Lykke in USD
 670.01 
(78.99)  10.55%
Market Cap: 21 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum is expected to generate 1.11 times less return on investment than Lykke Ethereum. In addition to that, Gemini Ethereum is 1.01 times more volatile than Lykke Ethereum USD. It trades about 0.35 of its total potential returns per unit of risk. Lykke Ethereum USD is currently generating about 0.39 per unit of volatility. If you would invest  34,206  in Lykke Ethereum USD on November 14, 2017 and sell it today you would earn a total of  40,694  from holding Lykke Ethereum USD or generate 118.97% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gemini Ethereum and Lykke Ethereum
0.98

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Gemini Ethereum USD

  
22 

Risk-Adjusted Performance

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

Lykke Ethereum USD

  
25 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Lykke Ethereum USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.