Pair Correlation Between Tidex Ethereum and Gemini Ethereum

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

Tidex

Ethereum on Tidex in USD
 1,439 
0.003955  0.0003%
Market Cap: 90.1 K
 469.75 

Gemini

Ethereum on Gemini in USD
 969 
(64.62)  6.25%
Market Cap: 62.3 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  71,410  in Gemini Ethereum USD on December 23, 2017 and sell it today you would earn a total of  27,568  from holding Gemini Ethereum USD or generate 38.61% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Ethereum and Gemini Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy3.33%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Tidex Ethereum USD and Gemini Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gemini Ethereum USD and Tidex 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 Tidex Ethereum USD are associated (or correlated) with Gemini Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gemini Ethereum USD has no effect on the direction of Tidex Ethereum i.e. Tidex Ethereum and Gemini Ethereum go up and down completely randomly.

Comparative Volatility

Gemini Ethereum USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Ethereum USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.