Correlation Analysis Between Gatecoin Bitcoin and Bitstamp Bitcoin

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

Gatecoin Bitcoin USD  vs.  Bitstamp Bitcoin USD

Gatecoin

Bitcoin on Gatecoin in USD

 6,410 
20.70  0.32%
Market Cap: 1.2 B
  

Bitstamp

Bitcoin on Bitstamp in USD

 6,400 
9.81  0.15%
Market Cap: 11.9 B
 9.96 
0.16% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Bitcoin USD is expected to generate 2.06 times more return on investment than Bitstamp Bitcoin. However, Gatecoin Bitcoin is 2.06 times more volatile than Bitstamp Bitcoin USD. It trades about -0.04 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about -0.11 per unit of risk. If you would invest  671,000  in Gatecoin Bitcoin USD on September 20, 2018 and sell it today you would lose (30,000)  from holding Gatecoin Bitcoin USD or give up 4.47% of portfolio value over 30 days.

Pair Corralation between Gatecoin Bitcoin and Bitstamp Bitcoin

0.82
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy95.65%
ValuesDaily Returns

Diversification

Very poor diversification

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

Risk-Adjusted Performance

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

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