Correlation Analysis Between Gemini Bitcoin and HitBTC Bitcoin

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

Comparative Performance

Gemini Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
HitBTC Bitcoin USD  

Risk-Adjusted Performance

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

Gemini Bitcoin and HitBTC Bitcoin Volatility Contrast

 Predicted Return Density 

Gemini Bitcoin USD  vs.  HitBTC Bitcoin USD


Bitcoin on Gemini in USD

(16.60)  0.47%
Market Cap: 59.3 B


Bitcoin on HitBTC in USD

0.00  0.00%
Market Cap: 817.8 K
0.005175% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

If you would invest  638,689  in Gemini Bitcoin USD on November 18, 2018 and sell it today you would lose (293,533)  from holding Gemini Bitcoin USD or give up 45.96% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and HitBTC Bitcoin

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Gemini Bitcoin and HitBTC Bitcoin

Gemini Bitcoin USD diversification synergy

Poor diversification

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

Thematic Opportunities

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.