Correlation Analysis Between Gemini Ethereum and Cexio Ethereum

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

Gemini Ethereum USD  vs.  Cexio Ethereum USD

Gemini

Ethereum on Gemini in USD

 204.80 
7.80  3.96%
Market Cap: 1.2 B
  

Cexio

Ethereum on Cexio in USD

 208.78 
8.78  4.39%
Market Cap: 189.3 M
(3.98)
1.94% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum is expected to generate 1.46 times less return on investment than Cexio Ethereum. But when comparing it to its historical volatility, Gemini Ethereum USD is 1.14 times less risky than Cexio Ethereum. It trades about 0.05 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  19,654  in Cexio Ethereum USD on September 15, 2018 and sell it today you would earn a total of  900.00  from holding Cexio Ethereum USD or generate 4.58% return on investment over 30 days.

Pair Corralation between Gemini Ethereum and Cexio Ethereum

0.87
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Gemini Ethereum USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Ethereum USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Cexio Ethereum USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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