Correlation Analysis Between Gemini Bitcoin and Lykke Bitcoin

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

Gemini Bitcoin USD  vs.  Lykke Bitcoin USD

Gemini

Bitcoin on Gemini in USD
 6,462 
29.99  0.46%
Market Cap: 38 B
  

Lykke

Bitcoin on Lykke in USD
 6,451 
30.58  0.47%
Market Cap: 298.7 K
 11.14 
0.17% 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 Lykke Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Gemini Bitcoin USD is 1.11 times less risky than Lykke Bitcoin. The crypto trades about -0.33 of its potential returns per unit of risk. The Lykke Bitcoin USD is currently generating about -0.1 of returns per unit of risk over similar time horizon. If you would invest  741,084  in Lykke Bitcoin USD on July 21, 2018 and sell it today you would lose (91,576)  from holding Lykke Bitcoin USD or give up 12.36% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and Lykke Bitcoin

0.65
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy72.41%
ValuesDaily Returns

Diversification

Poor diversification

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

Risk-Adjusted Performance

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

Lykke Bitcoin USD

Pair trading matchups for Lykke Bitcoin

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1200.96

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See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.