Correlation Analysis Between Yobit Ethereum and Gemini Ethereum

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

Yobit Ethereum USD  vs.  Gemini Ethereum USD

Yobit

Ethereum on Yobit in USD

 214.49 
5.36  2.56%
Market Cap: 23.6 M
  

Gemini

Ethereum on Gemini in USD

 204.80 
7.80  3.96%
Market Cap: 1.2 B
 9.69 
4.52% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum USD is expected to generate 1.02 times more return on investment than Gemini Ethereum. However, Yobit Ethereum is 1.02 times more volatile than Gemini Ethereum USD. It trades about 0.06 of its potential returns per unit of risk. Gemini Ethereum USD is currently generating about 0.05 per unit of risk. If you would invest  20,550  in Yobit Ethereum USD on September 15, 2018 and sell it today you would earn a total of  855.00  from holding Yobit Ethereum USD or generate 4.16% return on investment over 30 days.

Pair Corralation between Yobit Ethereum and Gemini Ethereum

0.84
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 Yobit 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 Yobit 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 Yobit 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 Yobit Ethereum i.e. Yobit Ethereum and Gemini Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Ethereum USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ethereum USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Gemini Ethereum USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Ethereum USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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