Pair Correlation Between BitTrex Bitcoin and Gatecoin Bitcoin

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

BitTrex Bitcoin USD  vs.  Gatecoin Bitcoin USD

BitTrex

Bitcoin on BitTrex in USD
 9,475 
544.00  6.09%
Market Cap: 137.7 B
  

Gatecoin

Bitcoin on Gatecoin in USD
 9,630 
170.90  1.74%
Market Cap: 279.2 M
(155.00)
1.64% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Bitcoin is expected to generate 1.24 times less return on investment than Gatecoin Bitcoin. But when comparing it to its historical volatility, BitTrex Bitcoin USD is 1.06 times less risky than Gatecoin Bitcoin. It trades about 0.02 of its potential returns per unit of risk. Gatecoin Bitcoin USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  971,000  in Gatecoin Bitcoin USD on March 26, 2018 and sell it today you would lose (8,000)  from holding Gatecoin Bitcoin USD or give up 0.82% of portfolio value over 30 days.

Pair Corralation between BitTrex Bitcoin and Gatecoin Bitcoin

0.86
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.36%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Bitcoin USD and Gatecoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gatecoin Bitcoin USD and BitTrex 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 BitTrex Bitcoin USD are associated (or correlated) with Gatecoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gatecoin Bitcoin USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and Gatecoin Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Bitcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Gatecoin Bitcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
WEN - USA Stock
The Wendys Company
Fama & French Restaurants Hotels Motels
Restaurants Hotels Motels
Fama & French Classification
RegionNorth America
ExchangeNASDAQ
$16.85

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.