Correlation Analysis Between Bitfinex Bitcoin and Gemini Bitcoin

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

Bitfinex Bitcoin USD  vs.  Gemini Bitcoin USD

Bitfinex

Bitcoin on Bitfinex in USD

 6,612 
22.00  0.33%
Market Cap: 71.4 B
  

Gemini

Bitcoin on Gemini in USD

 6,394 
7.01  0.11%
Market Cap: 6 B
 218.10 
3.30% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 1.11 times more return on investment than Gemini Bitcoin. However, Bitfinex Bitcoin is 1.11 times more volatile than Gemini Bitcoin USD. It trades about -0.02 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about -0.1 per unit of risk. If you would invest  673,010  in Bitfinex Bitcoin USD on September 21, 2018 and sell it today you would lose (11,810)  from holding Bitfinex Bitcoin USD or give up 1.75% of portfolio value over 30 days.

Pair Corralation between Bitfinex Bitcoin and Gemini Bitcoin

0.78
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Bitcoin USD  
0 

Risk-Adjusted Performance

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

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex 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

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
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