Pair Correlation Between Bitstamp Bitcoin and Gatecoin Bitcoin

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

Bitstamp

Bitcoin on Bitstamp in USD
 19,065 
1,629  9.34%
Market Cap: 3049.2 B
(486)

Gatecoin

Bitcoin on Gatecoin in USD
 19,551 
1,890  10.7%
Market Cap: 167.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to generate 0.99 times more return on investment than Gatecoin Bitcoin. However, Bitstamp Bitcoin USD is 1.01 times less risky than Gatecoin Bitcoin. It trades about 0.43 of its potential returns per unit of risk. Gatecoin Bitcoin USD is currently generating about 0.43 per unit of risk. If you would invest  793,274  in Bitstamp Bitcoin USD on November 16, 2017 and sell it today you would earn a total of  1,113,226  from holding Bitstamp Bitcoin USD or generate 140.33% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitstamp Bitcoin and Gatecoin Bitcoin
0.91

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitstamp Bitcoin USD

  
28 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.

Gatecoin Bitcoin USD

  
28 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Bitcoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.