Pair Correlation Between Gemini Ethereum and Lykke Ethereum

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

Gemini

Ethereum on Gemini in USD
 1,023 
(2.22)  0.22%
Market Cap: 62.3 B
(104.96)

Lykke

Ethereum on Lykke in USD
 1,128 
17.89  1.61%
Market Cap: 30 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum USD is expected to generate 1.59 times more return on investment than Lykke Ethereum. However, Gemini Ethereum is 1.59 times more volatile than Lykke Ethereum USD. It trades about 0.18 of its potential returns per unit of risk. Lykke Ethereum USD is currently generating about 0.23 per unit of risk. If you would invest  78,587  in Gemini Ethereum USD on December 20, 2017 and sell it today you would earn a total of  30,852  from holding Gemini Ethereum USD or generate 39.26% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gemini Ethereum and Lykke Ethereum
0.85

Parameters

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 Lykke Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Lykke 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 Lykke Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lykke Ethereum USD has no effect on the direction of Gemini Ethereum i.e. Gemini Ethereum and Lykke Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Gemini Ethereum USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Ethereum USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Gemini Ethereum USD

Pair trading matchups for Gemini Ethereum

Lykke Ethereum USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Lykke Ethereum USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Lykke Ethereum USD

Pair trading matchups for Lykke Ethereum