Correlation Analysis Between Coinroom Bitcoin and Gemini Bitcoin

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

Comparative Performance

Coinroom Bitcoin USD  

Risk-Adjusted Performance

Over the last 30 days Coinroom 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.

Coinroom Bitcoin and Gemini Bitcoin Volatility Contrast

 Predicted Return Density 

Coinroom Bitcoin USD  vs.  Gemini Bitcoin USD


Bitcoin on Coinroom in USD

(698.28)  0.17%
Market Cap: 855.2 M


Bitcoin on Gemini in USD

(0.75)  0.0002%
Market Cap: 7 B
2.76% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin is expected to generate 769.03 times less return on investment than Gemini Bitcoin. But when comparing it to its historical volatility, Coinroom Bitcoin USD is 19.5 times less risky than Gemini Bitcoin. It trades about 0.0 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  478,604  in Gemini Bitcoin USD on December 19, 2018 and sell it today you would lose (117,113)  from holding Gemini Bitcoin USD or give up 24.47% of portfolio value over 30 days.

Pair Corralation between Coinroom Bitcoin and Gemini Bitcoin

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Coinroom Bitcoin and Gemini Bitcoin

Coinroom Bitcoin USD diversification synergy

Very weak diversification

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

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See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.