Correlation Analysis Between Gemini Bitcoin and TrustDEX Bitcoin

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

Gemini Bitcoin USD  vs.  TrustDEX Bitcoin USD

Gemini

Bitcoin on Gemini in USD
 6,712 
437.68  6.98%
Market Cap: 115.4 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 7,404 
507.86  7.36%
Market Cap: 28.7 B
(692.31)
10.32% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin is expected to generate 4.98 times less return on investment than TrustDEX Bitcoin. But when comparing it to its historical volatility, Gemini Bitcoin USD is 1.02 times less risky than TrustDEX Bitcoin. It trades about 0.0 of its potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  737,729  in TrustDEX Bitcoin USD on June 16, 2018 and sell it today you would earn a total of  2,670  from holding TrustDEX Bitcoin USD or generate 0.36% return on investment over 30 days.

Pair Corralation between Gemini Bitcoin and TrustDEX Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin

My Equities

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1183.86

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