Correlation Analysis Between Gemini Bitcoin and Exmo Bitcoin

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

Gemini Bitcoin USD  vs.  Exmo Bitcoin USD

Gemini

Bitcoin on Gemini in USD
 7,888 
51.04  0.64%
Market Cap: 204.3 B
  

Exmo

Bitcoin on Exmo in USD
 7,980 
11.00  0.14%
Market Cap: 24.7 B
(92.00)
1.17% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to under-perform the Exmo Bitcoin. In addition to that, Gemini Bitcoin is 1.12 times more volatile than Exmo Bitcoin USD. It trades about -0.22 of its total potential returns per unit of risk. Exmo Bitcoin USD is currently generating about -0.22 per unit of volatility. If you would invest  938,000  in Exmo Bitcoin USD on April 23, 2018 and sell it today you would lose (141,171)  from holding Exmo Bitcoin USD or give up 15.05% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and Exmo Bitcoin

0.99
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 Exmo Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo 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 Exmo Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Bitcoin USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and Exmo Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Gemini Bitcoin USD  
0 

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.

Gemini Bitcoin USD

Pair trading matchups for Gemini Bitcoin
Exmo Bitcoin USD  
0 

Risk-Adjusted Performance

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

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin

My Equities

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ExchangeNASDAQ
$1066.36

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