Pair Correlation Between Abucoins Bitcoin and Gemini Bitcoin

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

Abucoins

Bitcoin on Abucoins in USD
 10,474 
(332.39)  3.08%
Market Cap: 531.1 M
 224.47 

Gemini

Bitcoin on Gemini in USD
 10,249 
(119.18)  1.15%
Market Cap: 902.9 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Abucoins Bitcoin USD is expected to under-perform the Gemini Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Abucoins Bitcoin USD is 1.45 times less risky than Gemini Bitcoin. The crypto trades about -0.15 of its potential returns per unit of risk. The Gemini Bitcoin USD is currently generating about -0.08 of returns per unit of risk over similar time horizon. If you would invest  1,398,668  in Gemini Bitcoin USD on December 24, 2017 and sell it today you would lose (361,201)  from holding Gemini Bitcoin USD or give up 25.82% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Abucoins Bitcoin and Gemini Bitcoin
0.89

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.77%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Abucoins Bitcoin USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Abucoins 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.