Pair Correlation Between Gatecoin Ethereum and Gemini Ethereum

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

Gatecoin

Ethereum on Gatecoin in USD
 1,010 
(180)  15.13%
Market Cap: 40.1 M
 20.22 

Gemini

Ethereum on Gemini in USD
 989.78 
(43.84)  4.24%
Market Cap: 62.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Ethereum USD is expected to generate 1.23 times more return on investment than Gemini Ethereum. However, Gatecoin Ethereum is 1.23 times more volatile than Gemini Ethereum USD. It trades about 0.15 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about 0.18 per unit of risk. If you would invest  80,000  in Gatecoin Ethereum USD on December 23, 2017 and sell it today you would earn a total of  26,343  from holding Gatecoin Ethereum USD or generate 32.93% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Ethereum and Gemini Ethereum
0.91

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 Gatecoin 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 Gatecoin 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 Gatecoin 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 Gatecoin Ethereum i.e. Gatecoin Ethereum and Gemini Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Gatecoin Ethereum USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Gemini Ethereum USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Ethereum USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.