Pair Correlation Between Gatecoin Bitcoin and Exmo Bitcoin

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

Gatecoin

Bitcoin on Gatecoin in USD
 16,088 
(1,263)  7.28%
Market Cap: 986.9 M
(123)

Exmo

Bitcoin on Exmo in USD
 16,211 
(354)  2.14%
Market Cap: 267.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Bitcoin USD is expected to generate 1.11 times more return on investment than Exmo Bitcoin. However, Gatecoin Bitcoin is 1.11 times more volatile than Exmo Bitcoin USD. It trades about 0.44 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.47 per unit of risk. If you would invest  681,270  in Gatecoin Bitcoin USD on November 13, 2017 and sell it today you would earn a total of  1,018,530  from holding Gatecoin Bitcoin USD or generate 149.5% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Bitcoin and Exmo Bitcoin
0.97

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Gatecoin Bitcoin USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Bitcoin USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.

Gatecoin Bitcoin USD

Pair trading matchups for Gatecoin Bitcoin

Exmo Bitcoin USD

  
31 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 31 (%) of all global equities and portfolios over the last 30 days.

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin