Correlation Analysis Between Coinbase Bitcoin and Gatecoin Bitcoin

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

Coinbase Bitcoin USD  vs.  Gatecoin Bitcoin USD

Coinbase

Bitcoin on Coinbase in USD

 6,398 
202.00  3.26%
Market Cap: 51.6 B
  

Gatecoin

Bitcoin on Gatecoin in USD

 6,516 
266.80  4.27%
Market Cap: 1.2 B
(118.00)
1.84% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 1.27 times less return on investment than Gatecoin Bitcoin. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 1.54 times less risky than Gatecoin Bitcoin. It trades about 0.06 of its potential returns per unit of risk. Gatecoin Bitcoin USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  630,050  in Gatecoin Bitcoin USD on September 15, 2018 and sell it today you would earn a total of  14,260  from holding Gatecoin Bitcoin USD or generate 2.26% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and Gatecoin Bitcoin

0.81
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Gatecoin Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1110.08

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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