Correlation Analysis Between Gemini Bitcoin and Coinbase Bitcoin

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

Gemini Bitcoin USD  vs.  Coinbase Bitcoin USD

Gemini

Bitcoin on Gemini in USD
 7,383 
1,109  17.68%
Market Cap: 115.4 B
  

Coinbase

Bitcoin on Coinbase in USD
 7,438 
82.19  1.12%
Market Cap: 139.3 B
(55.20)
0.75% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin is expected to generate 1.1 times less return on investment than Coinbase Bitcoin. But when comparing it to its historical volatility, Gemini Bitcoin USD is 1.01 times less risky than Coinbase Bitcoin. It trades about 0.11 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  671,472  in Coinbase Bitcoin USD on June 18, 2018 and sell it today you would earn a total of  72,364  from holding Coinbase Bitcoin USD or generate 10.78% return on investment over 30 days.

Pair Corralation between Gemini Bitcoin and Coinbase Bitcoin

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Gemini Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1198.8

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.