Pair Correlation Between Gemini Bitcoin and Exmo Bitcoin

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

Gemini

Bitcoin on Gemini in USD
 16,491 
(123.16)  0.74%
Market Cap: 2630.8 B
(57.09)

Exmo

Bitcoin on Exmo in USD
 16,548 
202  1.24%
Market Cap: 170.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 1.01 times more return on investment than Exmo Bitcoin. However, Gemini Bitcoin is 1.01 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 0.45 per unit of risk. If you would invest  723,415  in Gemini Bitcoin USD on November 14, 2017 and sell it today you would earn a total of  925,676  from holding Gemini Bitcoin USD or generate 127.96% return on investment over 30 days.

Correlation Coefficient

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Gemini Bitcoin USD

  
29 

Risk-Adjusted Performance

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

Exmo Bitcoin USD

  
29 

Risk-Adjusted Performance

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