This module allows you to analyze existing cross correlation between Gemini Ethereum USD and Exenium Ethereum USD. You can compare the effects of market volatilities on Gemini Ethereum and Exenium 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 Exenium Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Gemini Ethereum and Exenium Ethereum.
|Horizon||30 Days Login to change|
|Gemini Ethereum USD|
Over the last 30 days Gemini Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, Gemini Ethereum sustained solid returns over the last few months and may actually be approaching a breakup point.
|Exenium Ethereum USD|
Over the last 30 days Exenium Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably fragile technical indicators, Exenium Ethereum revealed solid returns over the last few months and may actually be approaching a breakup point.
Gemini Ethereum and Exenium Ethereum Volatility Contrast
Gemini Ethereum USD vs. Exenium Ethereum USD
Assuming 30 trading days horizon, Gemini Ethereum USD is expected to generate 1.07 times more return on investment than Exenium Ethereum. However, Gemini Ethereum is 1.07 times more volatile than Exenium Ethereum USD. It trades about 0.71 of its potential returns per unit of risk. Exenium Ethereum USD is currently generating about 0.5 per unit of risk. If you would invest 20,560 in Gemini Ethereum USD on August 21, 2019 and sell it today you would earn a total of 1,216 from holding Gemini Ethereum USD or generate 5.91% return on investment over 30 days.
Pair Corralation between Gemini Ethereum and Exenium Ethereum
|Time Period||3 Months [change]|
Diversification Opportunities for Gemini Ethereum and Exenium Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding Gemini Ethereum USD and Exenium Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exenium 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 Exenium Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exenium Ethereum USD has no effect on the direction of Gemini Ethereum i.e. Gemini Ethereum and Exenium Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.