Correlation Analysis Between Gemini Bitcoin and Quoine Bitcoin

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

Gemini Bitcoin USD  vs.  Quoine Bitcoin USD

Gemini

Bitcoin on Gemini in USD

 5,538 
8.19  0.15%
Market Cap: 5.8 B
  

Quoine

Bitcoin on Quoine in USD

 5,543 
151.49  2.81%
Market Cap: 5.6 B
(4.58)
0.08% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 0.77 times more return on investment than Quoine Bitcoin. However, Gemini Bitcoin USD is 1.3 times less risky than Quoine Bitcoin. It trades about -0.26 of its potential returns per unit of risk. Quoine Bitcoin USD is currently generating about -0.21 per unit of risk. If you would invest  643,957  in Gemini Bitcoin USD on October 17, 2018 and sell it today you would lose (89,440)  from holding Gemini Bitcoin USD or give up 13.89% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and Quoine Bitcoin

0.78
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

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 Quoine Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Quoine 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 Quoine Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quoine Bitcoin USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and Quoine 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

Quoine Bitcoin USD  
0 

Risk-Adjusted Performance

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

Quoine Bitcoin USD

Pair trading matchups for Quoine Bitcoin

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1064.71

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