Correlation Analysis Between BitTrex Bitcoin and Gemini Bitcoin

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

BitTrex Bitcoin USD  vs.  Gemini Bitcoin USD

BitTrex

Bitcoin on BitTrex in USD
 7,556 
67.05  0.88%
Market Cap: 85.9 B
  

Gemini

Bitcoin on Gemini in USD
 7,529 
113.03  1.48%
Market Cap: 204.3 B
 26.95 
0.36% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Bitcoin USD is expected to generate 1.02 times more return on investment than Gemini Bitcoin. However, BitTrex Bitcoin is 1.02 times more volatile than Gemini Bitcoin USD. It trades about -0.26 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about -0.27 per unit of risk. If you would invest  947,500  in BitTrex Bitcoin USD on April 23, 2018 and sell it today you would lose (195,310)  from holding BitTrex Bitcoin USD or give up 20.61% of portfolio value over 30 days.

Pair Corralation between BitTrex Bitcoin and Gemini Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Bitcoin USD  
0 

Risk-Adjusted Performance

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

BitTrex Bitcoin USD

Pair trading matchups for BitTrex Bitcoin
Gemini Bitcoin USD  
0 

Risk-Adjusted Performance

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

Gemini Bitcoin USD

Pair trading matchups for Gemini Bitcoin

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See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.