Correlation Analysis Between TrustDEX Bitcoin and Gemini Bitcoin

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

TrustDEX Bitcoin USD  vs.  Gemini Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 8,238 
136.78  1.69%
Market Cap: 123.4 B
  

Gemini

Bitcoin on Gemini in USD
 7,440 
109.02  1.49%
Market Cap: 115.4 B
 797.90 
9.69% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to generate 0.95 times more return on investment than Gemini Bitcoin. However, TrustDEX Bitcoin USD is 1.05 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 0.11 per unit of risk. If you would invest  737,990  in TrustDEX Bitcoin USD on June 19, 2018 and sell it today you would earn a total of  85,800  from holding TrustDEX Bitcoin USD or generate 11.63% return on investment over 30 days.

Pair Corralation between TrustDEX Bitcoin and Gemini 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 TrustDEX 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 TrustDEX 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 TrustDEX 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 TrustDEX Bitcoin i.e. TrustDEX Bitcoin and Gemini Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
TrustDEX Bitcoin USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Gemini Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1192.45

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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.