Correlation Analysis Between Gemini ZCash and Exmo ZCash

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

Gemini ZCash USD  
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Risk-Adjusted Performance

Over the last 30 days Gemini ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Exmo ZCash USD  
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Risk-Adjusted Performance

Over the last 30 days Exmo ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Gemini ZCash and Exmo ZCash Volatility Contrast

 Predicted Return Density 
      Returns 

Gemini ZCash USD  vs.  Exmo ZCash USD

Gemini

ZCash on Gemini in USD

 50.42 
(0.27)  0.53%
Market Cap: 7.5 M
  

Exmo

ZCash on Exmo in USD

 51.81 
(0.09)  0.17%
Market Cap: 3 M
(1.39)
2.76% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini ZCash USD is expected to under-perform the Exmo ZCash. In addition to that, Gemini ZCash is 1.05 times more volatile than Exmo ZCash USD. It trades about -0.28 of its total potential returns per unit of risk. Exmo ZCash USD is currently generating about -0.29 per unit of volatility. If you would invest  10,981  in Exmo ZCash USD on July 26, 2019 and sell it today you would lose (5,815)  from holding Exmo ZCash USD or give up 52.96% of portfolio value over 30 days.

Pair Corralation between Gemini ZCash and Exmo ZCash

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Gemini ZCash and Exmo ZCash

Gemini ZCash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Gemini ZCash USD and Exmo ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo ZCash USD and Gemini ZCash 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 ZCash USD are associated (or correlated) with Exmo ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo ZCash USD has no effect on the direction of Gemini ZCash i.e. Gemini ZCash and Exmo ZCash go up and down completely randomly.
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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