Correlation Analysis Between Gemini Ethereum and Exenium Ethereum

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
Symbolsvs
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Comparative Performance

Gemini Ethereum USD  
00

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. 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  
00

Risk-Adjusted Performance

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

Gemini

Ethereum on Gemini in USD

 216.46 
(1.30)  0.60%
Market Cap: 602.1 K
  

Exenium

Ethereum on Exenium in USD

 212.80 
(1.31)  0.61%
Market Cap: 3.3 M
 3.66 
1.69% 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 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

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy66.67%
ValuesDaily Returns

Diversification Opportunities for Gemini Ethereum and Exenium Ethereum

Gemini Ethereum USD diversification synergy

Pay attention

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.


 
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