Correlation Analysis Between DSX Bitcoin and Gemini Bitcoin

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

DSX Bitcoin USD  
2626

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in DSX Bitcoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, DSX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Gemini Bitcoin USD  
2222

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Gemini Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

DSX Bitcoin and Gemini Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

DSX Bitcoin USD  vs.  Gemini Bitcoin USD

DSX

Bitcoin on DSX in USD

 7,213 
(671.48)  8.52%
Market Cap: 110.2 M
  

Gemini

Bitcoin on Gemini in USD

 7,263 
(99.40)  1.35%
Market Cap: 28.9 B
(49.90)
0.69% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DSX Bitcoin USD is expected to generate 0.92 times more return on investment than Gemini Bitcoin. However, DSX Bitcoin USD is 1.08 times less risky than Gemini Bitcoin. It trades about 0.39 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.32 per unit of risk. If you would invest  384,809  in DSX Bitcoin USD on April 22, 2019 and sell it today you would earn a total of  403,601  from holding DSX Bitcoin USD or generate 104.88% return on investment over 30 days.

Pair Corralation between DSX Bitcoin and Gemini Bitcoin

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.56%
ValuesDaily Returns

Diversification Opportunities for DSX Bitcoin and Gemini Bitcoin

DSX Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding DSX 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 DSX 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 DSX 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 DSX Bitcoin i.e. DSX Bitcoin and Gemini Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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