Correlation Analysis Between Gemini Bitcoin and Bitfinex Bitcoin

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

Gemini Bitcoin USD  vs.  Bitfinex Bitcoin USD

Gemini

Bitcoin on Gemini in USD
 6,465 
105.23  1.65%
Market Cap: 99.2 B
  

Bitfinex

Bitcoin on Bitfinex in USD
 6,386 
35.20  0.55%
Market Cap: 288.1 B
 79.29 
1.23% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to under-perform the Bitfinex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Gemini Bitcoin USD is 1.03 times less risky than Bitfinex Bitcoin. The crypto trades about -0.07 of its potential returns per unit of risk. The Bitfinex Bitcoin USD is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest  671,480  in Bitfinex Bitcoin USD on June 16, 2018 and sell it today you would lose (36,410)  from holding Bitfinex Bitcoin USD or give up 5.42% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and Bitfinex 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 Gemini 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 Gemini 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 Gemini 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 Gemini Bitcoin i.e. Gemini Bitcoin and Bitfinex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
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
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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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1188.82

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See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.