Pair Correlation 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
 11,723 
338.36  2.97%
Market Cap: 1237.5 B
 970.87 

Gemini

Bitcoin on Gemini in USD
 10,752 
383.93  3.7%
Market Cap: 902.9 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to generate 1.1 times more return on investment than Gemini Bitcoin. However, TrustDEX Bitcoin is 1.1 times more volatile than Gemini Bitcoin USD. It trades about -0.05 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about -0.08 per unit of risk. If you would invest  1,488,300  in TrustDEX Bitcoin USD on December 23, 2017 and sell it today you would lose (332,200)  from holding TrustDEX Bitcoin USD or give up 22.32% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between TrustDEX Bitcoin and Gemini Bitcoin
1.0

Parameters

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

  
0 

Risk-Adjusted Performance

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

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.