Correlation Analysis Between Poloniex Bitcoin and Gemini Bitcoin

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

Poloniex Bitcoin USD  vs.  Gemini Bitcoin USD


Bitcoin on Poloniex in USD

0.26  0.0041%
Market Cap: 1.1 B


Bitcoin on Gemini in USD

24.40  0.38%
Market Cap: 55.9 B
0.32% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin is expected to generate 2.91 times less return on investment than Gemini Bitcoin. But when comparing it to its historical volatility, Poloniex Bitcoin USD is 1.06 times less risky than Gemini Bitcoin. It trades about 0.01 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  632,302  in Gemini Bitcoin USD on August 21, 2018 and sell it today you would earn a total of  7,369  from holding Gemini Bitcoin USD or generate 1.17% return on investment over 30 days.

Pair Corralation between Poloniex Bitcoin and Gemini Bitcoin

Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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

Comparative Volatility

 Predicted Return Density 
Poloniex Bitcoin USD  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.