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
 642.60 
62.40  8.85%
Market Cap: 10.7 B
  

Lykke

Ethereum on Lykke in USD
 650.10 
18.14  2.71%
Market Cap: 4.6 M
(7.50)
1.17% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Ethereum USD is expected to under-perform the Lykke Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Gemini Ethereum USD is 1.02 times less risky than Lykke Ethereum. The crypto trades about -0.05 of its potential returns per unit of risk. The Lykke Ethereum USD is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest  84,700  in Lykke Ethereum USD on March 26, 2018 and sell it today you would lose (17,876)  from holding Lykke Ethereum USD or give up 21.11% of portfolio value over 30 days.

Pair Corralation between Gemini Ethereum and Lykke Ethereum

0.95
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

Almost no 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  
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.
Lykke Ethereum USD  
0 

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.