Correlation Analysis Between Gemini Ethereum and BitTrex Ethereum

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

Comparative Performance

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.
BitTrex Ethereum USD  
0

Risk-Adjusted Performance

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

Gemini Ethereum and BitTrex Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Gemini Ethereum USD  vs.  BitTrex Ethereum USD

Gemini

Ethereum on Gemini in USD

 103.61 
(0.20)  0.19%
Market Cap: 52.7 M
  

BitTrex

Ethereum on BitTrex in USD

 95.19 
11.94  14.34%
Market Cap: 72.3 M
 8.42 
8.13% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum USD is expected to generate 1.07 times more return on investment than BitTrex Ethereum. However, Gemini Ethereum is 1.07 times more volatile than BitTrex Ethereum USD. It trades about -0.21 of its potential returns per unit of risk. BitTrex Ethereum USD is currently generating about -0.26 per unit of risk. If you would invest  19,902  in Gemini Ethereum USD on November 19, 2018 and sell it today you would lose (9,789)  from holding Gemini Ethereum USD or give up 49.19% of portfolio value over 30 days.

Pair Corralation between Gemini Ethereum and BitTrex Ethereum

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Gemini Ethereum and BitTrex Ethereum

Gemini Ethereum USD diversification synergy

Almost no diversification

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

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