Correlation Analysis Between Bitstamp Bitcoin and Gemini Bitcoin

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

Comparative Performance

Bitstamp Bitcoin USD  

Risk-Adjusted Performance

Over the last 30 days Bitstamp 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 8 (%) of all global equities and portfolios over the last 30 days.

Bitstamp Bitcoin and Gemini Bitcoin Volatility Contrast

 Predicted Return Density 

Bitstamp Bitcoin USD  vs.  Gemini Bitcoin USD


Bitcoin on Bitstamp in USD

(56.71)  1.77%
Market Cap: 121.4 B


Bitcoin on Gemini in USD

(61.29)  1.91%
Market Cap: 59.3 B
0.19% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to under-perform the Gemini Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Bitcoin USD is 42.11 times less risky than Gemini Bitcoin. The crypto trades about -0.42 of its potential returns per unit of risk. The Gemini Bitcoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  643,900  in Gemini Bitcoin USD on November 15, 2018 and sell it today you would lose (329,435)  from holding Gemini Bitcoin USD or give up 51.16% of portfolio value over 30 days.

Pair Corralation between Bitstamp Bitcoin and Gemini Bitcoin

Time Period2 Months [change]
StrengthVery Strong
ValuesDaily Returns

Diversification Opportunities for Bitstamp Bitcoin and Gemini Bitcoin

Bitstamp Bitcoin USD diversification synergy

Almost no diversification

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

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