Correlation Analysis Between Gemini Bitcoin and itBit Bitcoin

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

Gemini Bitcoin USD  vs.  itBit Bitcoin USD


Bitcoin on Gemini in USD

60.49  1.81%
Market Cap: 32.8 B


Bitcoin on itBit in USD

35.60  1.05%
Market Cap: 23.6 B
0.07% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 29.68 times more return on investment than itBit Bitcoin. However, Gemini Bitcoin is 29.68 times more volatile than itBit Bitcoin USD. It trades about 0.13 of its potential returns per unit of risk. itBit Bitcoin USD is currently generating about -0.25 per unit of risk. If you would invest  642,275  in Gemini Bitcoin USD on November 12, 2018 and sell it today you would lose (296,807)  from holding Gemini Bitcoin USD or give up 46.21% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and itBit Bitcoin

Time Period2 Months [change]
ValuesDaily Returns


Gemini Bitcoin USD diversification synergy

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
Gemini Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
itBit Bitcoin USD  

Risk-Adjusted Performance

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

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