Pair Correlation Between Gatecoin Bitcoin and Bitfinex Bitcoin

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


Bitcoin on Gatecoin in USD
388.8  3.09%
Market Cap: 2.8 B


Bitcoin on Bitfinex in USD
(608)  4.7%
Market Cap: 13064.5 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Bitcoin USD is expected to under-perform the Bitfinex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Gatecoin Bitcoin USD is 1.41 times less risky than Bitfinex Bitcoin. The crypto trades about -0.07 of its potential returns per unit of risk. The Bitfinex Bitcoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  1,350,000  in Bitfinex Bitcoin USD on December 21, 2017 and sell it today you would lose (55,900)  from holding Bitfinex Bitcoin USD or give up 4.14% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Bitcoin and Bitfinex Bitcoin


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


Almost no diversification

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

Comparative Volatility

 Predicted Return Density 

Gatecoin Bitcoin USD


Risk-Adjusted Performance

Over the last 30 days Gatecoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Gatecoin Bitcoin USD

Pair trading matchups for Gatecoin Bitcoin

Bitfinex Bitcoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Bitcoin USD

Pair trading matchups for Bitfinex Bitcoin