Correlation Analysis Between Lykke Ethereum and Gemini Ethereum

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

Lykke Ethereum USD  vs.  Gemini Ethereum USD

Lykke

Ethereum on Lykke in USD

 243.33 
33.06  15.72%
Market Cap: 9.3 M
  

Gemini

Ethereum on Gemini in USD

 247.01 
24.88  11.20%
Market Cap: 1.2 B
(3.68)
1.51% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Lykke Ethereum USD is expected to under-perform the Gemini Ethereum. In addition to that, Lykke Ethereum is 1.07 times more volatile than Gemini Ethereum USD. It trades about -0.03 of its total potential returns per unit of risk. Gemini Ethereum USD is currently generating about -0.03 per unit of volatility. If you would invest  27,602  in Gemini Ethereum USD on August 22, 2018 and sell it today you would lose (3,068)  from holding Gemini Ethereum USD or give up 11.12% of portfolio value over 30 days.

Pair Corralation between Lykke Ethereum and Gemini Ethereum

0.98
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 Lykke 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 Lykke 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 Lykke 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 Lykke Ethereum i.e. Lykke Ethereum and Gemini Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Lykke Ethereum USD  
0 

Risk-Adjusted Performance

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

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