Correlation Analysis Between Gemini Bitcoin and Exmo Ethereum

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

Comparative Performance

Gemini Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Gemini Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Exmo Ethereum USD  
0

Risk-Adjusted Performance

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

Gemini Bitcoin and Exmo Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Gemini Bitcoin USD  vs.  Exmo Ethereum USD

Gemini

Bitcoin on Gemini in USD

 3,594 
5.57  0.16%
Market Cap: 17.8 B
  

Exmo

Ethereum on Exmo in USD

 124.39 
0.46  0.37%
Market Cap: 27.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to under-perform the Exmo Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Gemini Bitcoin USD is 2.0 times less risky than Exmo Ethereum. The crypto trades about -0.04 of its potential returns per unit of risk. The Exmo Ethereum USD is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  13,083  in Exmo Ethereum USD on January 21, 2019 and sell it today you would lose (644.00)  from holding Exmo Ethereum USD or give up 4.92% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and Exmo Ethereum

0.59
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy92.31%
ValuesDaily Returns

Diversification Opportunities for Gemini Bitcoin and Exmo Ethereum

Gemini Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gemini Bitcoin USD and Exmo Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo Ethereum USD and Gemini Bitcoin 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 Bitcoin USD are associated (or correlated) with Exmo Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Ethereum USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and Exmo Ethereum go up and down completely randomly.

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Exmo Ethereum USD

Pair trading matchups for Exmo Ethereum

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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