Correlation Analysis Between Lykke Bitcoin and Gemini Bitcoin

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

Lykke Bitcoin USD  vs.  Gemini Bitcoin USD

Lykke

Bitcoin on Lykke in USD
 6,400 
82.04  1.27%
Market Cap: 298.7 K
  

Gemini

Bitcoin on Gemini in USD
 6,442 
50.13  0.77%
Market Cap: 38 B
(42.46)
0.66% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Lykke Bitcoin USD is expected to generate 1.1 times more return on investment than Gemini Bitcoin. However, Lykke Bitcoin is 1.1 times more volatile than Gemini Bitcoin USD. It trades about -0.11 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about -0.33 per unit of risk. If you would invest  741,084  in Lykke Bitcoin USD on July 21, 2018 and sell it today you would lose (101,129)  from holding Lykke Bitcoin USD or give up 13.65% of portfolio value over 30 days.

Pair Corralation between Lykke Bitcoin and Gemini Bitcoin

0.65
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy70.97%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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
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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1200.96

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 Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.