Correlation Analysis Between Gemini Bitcoin and Kraken Monero

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

Comparative Performance

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.
Kraken Monero USD  
0

Risk-Adjusted Performance

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

Gemini Bitcoin and Kraken Monero Volatility Contrast

 Predicted Return Density 
      Returns 

Gemini Bitcoin USD  vs.  Kraken Monero USD

Gemini

Bitcoin on Gemini in USD

 3,594 
5.57  0.16%
Market Cap: 17.8 B
  

Kraken

Monero on Kraken in USD

 47.03 
1.08  2.35%
Market Cap: 8.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 0.61 times more return on investment than Kraken Monero. However, Gemini Bitcoin USD is 1.63 times less risky than Kraken Monero. It trades about -0.01 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.05 per unit of risk. If you would invest  370,602  in Gemini Bitcoin USD on January 18, 2019 and sell it today you would lose (11,184)  from holding Gemini Bitcoin USD or give up 3.02% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and Kraken Monero

0.43
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy95.12%
ValuesDaily Returns

Diversification Opportunities for Gemini Bitcoin and Kraken Monero

Gemini Bitcoin USD diversification synergy

Very weak diversification

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

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Kraken Monero USD

Pair trading matchups for Kraken Monero

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