Correlation Analysis Between Kraken Bitcoin and Gemini Bitcoin

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

Kraken Bitcoin USD  vs.  Gemini Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 6,750 
11.00  0.16%
Market Cap: 223.3 B
  

Gemini

Bitcoin on Gemini in USD

 6,750 
12.64  0.19%
Market Cap: 55.9 B
 0.00 
0.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to generate 1.02 times more return on investment than Gemini Bitcoin. However, Kraken Bitcoin is 1.02 times more volatile than Gemini Bitcoin USD. It trades about 0.07 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.06 per unit of risk. If you would invest  653,200  in Kraken Bitcoin USD on August 22, 2018 and sell it today you would earn a total of  23,690  from holding Kraken Bitcoin USD or generate 3.63% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and Gemini Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy95.65%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Gemini Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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