Correlation Analysis Between Gatecoin Bitcoin and Bitfinex Bitcoin

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

Gatecoin Bitcoin USD  vs.  Bitfinex Bitcoin USD

Gatecoin

Bitcoin on Gatecoin in USD
 8,346 
3.20  0.0384%
Market Cap: 1.7 B
  

Bitfinex

Bitcoin on Bitfinex in USD
 8,250 
24.88  0.30%
Market Cap: 1401.3 B
 96.70 
1.16% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Bitcoin USD is expected to under-perform the Bitfinex Bitcoin. In addition to that, Gatecoin Bitcoin is 1.45 times more volatile than Bitfinex Bitcoin USD. It trades about -0.07 of its total potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.07 per unit of volatility. If you would invest  892,100  in Bitfinex Bitcoin USD on April 22, 2018 and sell it today you would lose (64,530)  from holding Bitfinex Bitcoin USD or give up 7.23% of portfolio value over 30 days.

Pair Corralation between Gatecoin Bitcoin and Bitfinex Bitcoin

0.93
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 Gatecoin Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and Gatecoin 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 Gatecoin Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of Gatecoin Bitcoin i.e. Gatecoin Bitcoin and Bitfinex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Gatecoin Bitcoin USD  
0 

Risk-Adjusted Performance

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

Gatecoin Bitcoin USD

Pair trading matchups for Gatecoin Bitcoin
Bitfinex Bitcoin USD  
0 

Risk-Adjusted Performance

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

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin

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Alphabet
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ExchangeNASDAQ
$1066.36

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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.