This module allows you to analyze existing cross correlation between Gemini Bitcoin USD and itBit Bitcoin USD. You can compare the effects of market volatilities on Gemini Bitcoin and itBit 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 itBit Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Gemini Bitcoin
and itBit Bitcoin
Gemini Bitcoin USD vs itBit Bitcoin USD
Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 0.85 times more return on investment than itBit Bitcoin. However, Gemini Bitcoin USD is 1.17 times less risky than itBit Bitcoin. It trades about 0.51 of its potential returns per unit of risk. itBit Bitcoin USD is currently generating about 0.43 per unit of risk. If you would invest 764,000 in Gemini Bitcoin USD on November 17, 2017 and sell it today you would earn a total of 1,214,945 from holding Gemini Bitcoin USD or generate 159.02% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Gemini Bitcoin USD and itBit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit 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 itBit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Bitcoin USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and itBit Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 33 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in itBit Bitcoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.