Correlation Analysis Between EXRATES Bitcoin and Gemini Bitcoin

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

Comparative Performance

EXRATES Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of weak performance in the last few months, the Crypto's forward-looking signals remain relatively invariable which may send shares a bit higher in September 2019. The latest agitation may also be a sign of long running up-swing for the entity management.
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 weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

EXRATES Bitcoin and Gemini Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

EXRATES Bitcoin USD  vs.  Gemini Bitcoin USD

EXRATES

Bitcoin on EXRATES in USD

 10,179 
(185.12)  1.79%
Market Cap: 1332.8 B
  

Gemini

Bitcoin on Gemini in USD

 10,165 
(203.54)  1.96%
Market Cap: 55.6 B
 14.48 
0.14% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Bitcoin USD is expected to under-perform the Gemini Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, EXRATES Bitcoin USD is 1.06 times less risky than Gemini Bitcoin. The crypto trades about -0.05 of its potential returns per unit of risk. The Gemini Bitcoin USD is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest  1,254,962  in Gemini Bitcoin USD on July 25, 2019 and sell it today you would lose (218,126)  from holding Gemini Bitcoin USD or give up 17.38% of portfolio value over 30 days.

Pair Corralation between EXRATES Bitcoin and Gemini Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for EXRATES Bitcoin and Gemini Bitcoin

EXRATES Bitcoin USD diversification synergy

No risk reduction

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