Correlation Analysis Between LocalBitcoins Bitcoin and Gemini Bitcoin

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

LocalBitcoins Bitcoin USD  vs.  Gemini Bitcoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 3,483 
(1,832)  34.47%
Market Cap: 95.1 M
  

Gemini

Bitcoin on Gemini in USD

 3,414 
66.07  1.97%
Market Cap: 32.8 B
 69.24 
1.99% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin is expected to generate 4.07 times less return on investment than Gemini Bitcoin. But when comparing it to its historical volatility, LocalBitcoins Bitcoin USD is 4.01 times less risky than Gemini Bitcoin. It trades about 0.13 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  642,275  in Gemini Bitcoin USD on November 12, 2018 and sell it today you would lose (307,471)  from holding Gemini Bitcoin USD or give up 47.87% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Gemini Bitcoin

0.52
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy97.67%
ValuesDaily Returns

Diversification

LocalBitcoins Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins 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 LocalBitcoins 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 LocalBitcoins 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 LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Gemini Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
8

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Gemini Bitcoin USD  
8

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

View AllNext
TGT - USA Stock
Target Corporation
Specialization
Consumer, Diversified Wholesale And Retail
RegionNorth America
ExchangeNew York Stock Exchange
$67.81

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.


 
Search macroaxis.com