Correlation Analysis Between Coinsbit Bitcoin and Gemini Bitcoin

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

Coinsbit Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Coinsbit Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
Gemini Bitcoin USD  
00

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. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

Coinsbit Bitcoin and Gemini Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Bitcoin USD  vs.  Gemini Bitcoin USD

Coinsbit

Bitcoin on Coinsbit in USD

 10,465 
371.96  3.69%
Market Cap: 162.4 B
  

Gemini

Bitcoin on Gemini in USD

 9,973 
(40.26)  0.40%
Market Cap: 55.6 B
 491.92 
4.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Bitcoin USD is expected to generate 1.1 times more return on investment than Gemini Bitcoin. However, Coinsbit Bitcoin is 1.1 times more volatile than Gemini Bitcoin USD. It trades about 0.0 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest  1,171,291  in Coinsbit Bitcoin USD on July 23, 2019 and sell it today you would lose (124,795)  from holding Coinsbit Bitcoin USD or give up 10.65% of portfolio value over 30 days.

Pair Corralation between Coinsbit Bitcoin and Gemini Bitcoin

0.9
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Bitcoin and Gemini Bitcoin

Coinsbit Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinsbit 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 Coinsbit 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 Coinsbit 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 Coinsbit Bitcoin i.e. Coinsbit Bitcoin and Gemini Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.


 
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