Correlation Analysis Between Cexio Ethereum and Gemini Ethereum

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

Comparative Performance

Cexio Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Cexio 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.

Cexio Ethereum and Gemini Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Ethereum USD  vs.  Gemini Ethereum USD

Cexio

Ethereum on Cexio in USD

 123.57 
(1.70)  1.36%
Market Cap: 53 M
  

Gemini

Ethereum on Gemini in USD

 120.23 
0.15  0.12%
Market Cap: 30.2 M
 3.34 
2.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the Gemini Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Ethereum USD is 1.12 times less risky than Gemini Ethereum. The crypto trades about -0.02 of its potential returns per unit of risk. The 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 17, 2018 and sell it today you would lose (942.00)  from holding Gemini Ethereum USD or give up 7.19% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and Gemini Ethereum

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

Diversification Opportunities for Cexio Ethereum and Gemini Ethereum

Cexio Ethereum USD diversification synergy

Almost no diversification

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

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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