Correlation Analysis Between Bitstamp Ethereum and Gemini Ethereum

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

Comparative Performance

Bitstamp Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Bitstamp 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.

Bitstamp Ethereum and Gemini Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Bitstamp Ethereum USD  vs.  Gemini Ethereum USD

Bitstamp

Ethereum on Bitstamp in USD

 121.91 
0.07  0.06%
Market Cap: 527.1 M
  

Gemini

Ethereum on Gemini in USD

 121.70 
0.97  0.80%
Market Cap: 30.2 M
 0.21 
0.17% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum is expected to generate 2.08 times less return on investment than Gemini Ethereum. But when comparing it to its historical volatility, Bitstamp Ethereum USD is 1.08 times less risky than Gemini Ethereum. It trades about 0.01 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  13,108  in Gemini Ethereum USD on December 18, 2018 and sell it today you would lose (1,015)  from holding Gemini Ethereum USD or give up 7.74% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and Gemini Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitstamp Ethereum and Gemini Ethereum

Bitstamp Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp 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 Bitstamp 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 Bitstamp 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 Bitstamp Ethereum i.e. Bitstamp Ethereum and Gemini Ethereum go up and down completely randomly.

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